Inflation Is Hot, So Why Will the Fed Hold This Week?

Inflation is running hot and the Fed raised rates just last month. Yet futures markets put the odds of another hike at this week's meeting at only about 10%.In this video, Eric Bleeker, CFA, Chief Investment Officer of 24/7 Wall St., explains why Wall Street expects the Federal Reserve to sit still now, and why December looks very different, with hike odds above 80%.With consumer prices up 3.7% and the 10-year Treasury yield near 5%, the biggest questions are how Fed Chair Kevin Warsh explains a pause, and what his move away from forward guidance means for markets.We'll also cover the political pressure on the Fed from the White House, and what Morgan Stanley (NYSE: MS) strategists say a few more hikes would mean for the bull market.Finally, we'll lay out what to watch: Wednesday's Fed statement, Warsh's press conference, and the inflation and jobs reports that could lock in a December hike.