Two Reasons The Fed May Hike Today: Oil Prices And History (Live Coverage)

As the Federal Reserve gets set to release its monetary policy update at 2 p.m. ET, followed a half hour later by Chairman Kevin Warsh's news conference, Wall Street is the unusual position of not knowing what will happen. Prior to Warsh, Wall Street has typically been near certain about what the Fed would do, reflected by markets pricing in around 90% or higher odds of the expected result. The S&P 500 is sharply lower ahead of the Fed reveal, amid rebounding oil prices and the ongoing sell-off in AI and chip names.