Fed Meeting Begins as BIS Warns "Higher For Longer"

The September FOMC meeting is officially under way and already the Bank of International Settlements is warning traders not expect rate cuts any time soon. While most investors believe that no rate hike is coming this month, there remains a 30% chance of a rate hike in November while many beleive rate cuts might begin as soon as early next year. Investors will be looking for clues from Jerome Powell about the Fed's direction during tomorrow's press conference.

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