Markets price a 90% chance the Fed holds Wednesday, but December odds of a 25bp hike sit at 75% with inflation at 3.7%. A hold is not an all-clear: the Fed already hiked last month for the first time

What happened: The Federal Reserve is set to issue an interest rate decision on Wednesday, with markets expecting the central bank to hold rates steady. Key numbers: Investors put the chance of a hold at about 90%, per CME Group's FedWatch Tool. Odds of a quarter-point hike in December are pegged at 75%. Why it matters: Bank of America Global Research said a hike could raise worries about overtightening while a hold could question the Fed's inflation-fighting credibility. Deutsche Bank Research said the midterms could factor into a hold but would not be a primary consideration. Coverage: 3 outlets in 24h

Fed rate decision timing tied to looming midterm elections.

Fed rate decision timing tied to looming midterm elections. — impact context not separately stored; see What changed.