What's priced in for the Federal Reserve

What's priced in for the FOMC

The FOMC decision is due at 1800 GMT (2 pm ET). There is no press conference or foreacsts for this meeting, just a statement which will guide markets on what's coming next.

• For today's meeting, a negligible chance of a hike

• Sept 26 meeting - 80.2% chance of a hike

• For Nov 8 meeting - 5.4% chance of a second hike

• For Dec 19 meeting - 62.3% chance of a second hike

For the end of the 2019

• Two or more hikes 84.8%

• Three or more hikes 53.5% chance

• Four or more hikes 22.9% chance

• Five or more hikes 6.3% chance

Looking more closely, it's fair to say that three hikes are fully priced in with a good chance of four but that's far from the six that the dot plot shows.