Talk in the market is that the Fed is serious about raising rates

In an earlier story, Jamie mentioned the Medley report which basically said that the FOMC meeting next week is likely to discuss the possibility of raising rates. It may be unlikely to happen just yet, but the prospect will be raised.

Some players in the market who study central bank behaviour say that the Federal Reserve often operate in this way, dropping hints to the NY Times, the Washington Post, or in this case possibly through the Medley report. They do this to soften the impact of any significant directional change.

They may not raise rates yet but they may change their statement bias which in itself would be a significant event and would move markets.