Fed set for rate hike amid questions over what’s next

With an interest rate hike Wednesday all but a done deal, investors will be looking to guidance from the Federal Reserve on whether this might be the last of this cycle.
The rate-setting Federal Open Market Committee will release its decision at 2 p.m. ET, followed a half-hour later by Chairman Jerome Powell’s news conference.
Traders are pricing in a 100% chance of an increase, but just a 38% probability that the Fed will follow through with another hike before the end of the year, according to CME Group data.
“The signal will probably be, yes, we’re hiking, but then we think we can sit here for a while and see,” said Kathy Jones, chief fixed income strategist at Charles Schwab. “But no promises. They can’t give up the option.”