The Federal Reserve is widely expected to raise interest rates by a quarter of a percentage point today, but may cut the number of hikes it anticipates next year in the face of market volatility, a collapse in oil prices, and cooling trade and economic activity.
Complicating matters further, President Trump again warned the central bank that it must tread carefully in order not to "make yet another mistake."
U.S. stock index futures are rising ahead of the decision, with the Dow, S&P 500 and Nasdaq all up by 0.8%.
The rate hike would be the fourth of the year and the ninth since the Fed began its current tightening cycle in December 2015.
Oil is up 0.3% at $46.73/bbl, gold is 0.1% lower at $1252/ounce and the 10-year Treasury yield is flat at 2.82%.
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