Fed Decision Looms as Rate Hike Odds Hit 92.5%

The US Federal Reserve is set to make its decision on interest rates after a two-day meeting that began on September 15.

The central bank has kept its key benchmark interest rates for the US economy at 3.50% to 3.75% for the last nine months, but market experts predict a 92.5% probability of a rate hike to between 3.75% and 4.00%, according to CME Group's FedWatch data.

The FOMC's decision will be announced at 2:00 pm (ET) on September 16, followed by a press conference with Chairman Kevin Warsh.