FOMC Preview: Expect a shift in Fed’s language to signal Dec rate hike – HSBC

Economists at HSBC Global Research published a brief preview on the upcoming FOMC interest rates decision, noting that they expect Fed to keep rate on-hold this Wednesday.

Key Quotes:                          

“We expect no change in the federal funds rate after the FOMC meeting scheduled for 1-2 November.”

“As was the case in September, however, there could be as many as three dissents in favor of a 25bp rate increase.”

“The question for financial markets is whether the Committee will signal an increased likelihood of a rate hike in December.”

“We expect that there will be some shift in the language of the November policy statement to indicate that the Committee is leaning toward a rate hike before the end of this year.”

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