Steven Whiting, co-founder of CIO Group, said the Fed waiting until December to
raise rates would only "prolong our pain." Fed funds futures largely price no
move tonight and a December hike; CME FedWatch shows about a 7% chance of a 25bp
increase this evening. Whiting noted Fed Chair Kevin Warsh has signaled
inflation remains too high, raising the possibility policymakers could act
before December; he said he is not predicting a move tonight but judges the odds
of a surprise hike to be higher than 7%.
