Fed dependent on data

The Fed will round up their second day of meetings today as markets heavily anticipate the 2 p.m. press release. Analysts across the spectrum do not expect a rate increase at this meeting, approximating the chances of a hike at a meager 4 percent. Analysts will instead focus on how the Fed will react to the recent mixed economic data and whether current conditions warrant a December rate hike. 

If wording, such as the U.S. economy is expanding at a "moderate" pace and the employment market is seeing "solid" job gains and "declining" unemployment, in the press release remains true then a December rate increase becomes a realistic possibility. 

"For the rest of 2015 the Fed will remain dependent on strong economic data. Firm growth in every area from employment and inflation to retail sales and manufacturing is necessary for the committee to consider December as a time to raise rates", says Voya Global.