Fed Week: Warsh Is Expected to Hold. Thursday's Numbers Will Tell You What Comes Next.

Wall Street expects no change in rates on Wednesday. The real story is Thursday's GDP and inflation reports, and whether a December hike is already baked in.

By Clara Hughes

The Federal Reserve's policy committee meets Tuesday and Wednesday, Oct. 27-28, according to the Fed's own calendar. It's the last scheduled meeting before the Nov. 3 midterms. The next one is Dec. 8-9. Almost nobody expects a move. In a Reuters poll cited by Newsquawk, 94 of 100 economists said the Fed will hold its benchmark rate in a range of 3.75% to 4.00%. Futures markets at the CME implied only about a 10% chance of a hike this week. That follows a unanimous quarter-point hike in September, which Chair Kevin Warsh described as "removing a dose of accommodation," per Newsquawk. So the question