WSJ Timiraos: Fed decision likely to depend on market reaction in coming days

WSJ Timiraos on CNBC:

• Rise of 25 basis points because skipping the rise risks melting the market
• the case for a pause boils down to fears that credit events will turn serious and that moving slowly is best
• The Fed’s decision will likely depend on how the market reacts in the coming days.
• All we’ve heard from the Fed is that we have the tools to address financial stability issues so we can keep our eyes on the price of restoring price stability.

January contract at 3.95%