Market Insider

Traders maintain expectations of December hike after Fed statement

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Traders maintained their expectations for a Federal Reserve rate hike in December after the release of the latest Fed statement Wednesday.

As of 2:38 p.m., ET, fed funds futures were pricing in a roughly 78 percent chance for a hike in December, said Peter Coleman, head trader at Convergex. That's little changed from before the statement release.

The Federal Open Market Committee kept rates unchanged at its November meeting and did not make specific reference to a coming rate hike at its meeting next month.

"There's nothing here today that tells you anything differently," said Jeremy Klein, chief market strategist at FBN Securities.

Traders did not expect the Federal Reserve to raise rates Wednesday, but they were watching the statement release for indications on a December rate hike, which is widely anticipated.