Markets can't tell whether the Federal Reserve will raise interest rates next week. After September's inflation reportcame in hot at 3.7%, markets moved the probability of a hike from 20% to 50%. Within days, fed funds futures put itback near 20%. Commentators are irritated. Chairman Kevin Warsh has gone quiet, no longer telling them what comes next. The Fed's statements don't contain forward guidance anymore, and Warsh declines to submit his own interest rate forecast, calling it "not helpful in the conduct of policy."
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