CME Group FedWatch Tool's December rate hike odds rise to 80%

In a widely expected decision, the FOMC hiked its key policy rate by 25 basis points following its two-day meeting on September 25-26. The updated economic projections revealed that the FOMC was expecting one more rate hike before the end of the year. Following today's publications, the CME Group FedWatch Tool's rate hike odds for December advanced to 80% from 75% seen on Tuesday.