By Investing.com Staff
The market's response to the Fed's 14:00 ET (18:00 GMT) decision on interest rates today will come down to one sentence, according to Vital Knowledge.
The sentence in question is: "The Committee anticipates that some additional policy firming may be appropriate."
The base case, according to Vital Knowledge, is that the line is qualified or caveated by the Fed. Something along the lines of “could be appropriate” or “may yet be appropriate”.
If the Fed makes no modification to the sentence it would be viewed as a "hawkish" surprise.
Meanwhile, if the Fed removes the sentence entirely it would be a "dovish" surprise.