Nick Timiraos, the Fed's mouthpiece, stated that Goldman Sachs believes the Fed's decision, regardless of its final decision, will be the biggest "surprise" of a non-rate-cut meeting since 1997, as the interest rate futures market is currently pricing in a one-in-three chance of a Fed rate hike today. If the Fed raises rates, it will be "the biggest meeting-day surprise since the Fed began issuing statements announcing policy rate changes, excluding rate cuts."
