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Is The Fed Ready To Raise Rates In December?

The FOMC concluded its meeting with no rate hikes but did put its last meeting of the year in December as a possible timing to hit liftoff and start raising rates. The FOMC had to address December considering its members have been promising us for months that they do plan to raise rates this year and the dot plots also points towards raising rates. And unless the current market conditions change dramatically in the next couple of months: Specifically, if the next couple of CPI and non-farm payroll reports don't deviate from the progress they have presented in the past few months, then it will be a tough sale for the Fed to not move forward and raise rates.

The FOMC statement wasn't changed much from the previous statement. Again, there was one dissenter Williams, who thought it's time to raise rates. But two main differences draw the attentions of analysts:

Less worried about global economic developments: The Fed omitted the line regarding its concerns over the progress of the global economy and substituted it for just a short mention:

"The Committee continues to see the risks to the...