The probability of a 25-basis-point Federal Reserve rate hike has climbed to 87% as of September 15, up from about 30% on August 27, according to Kalshi market pricing. A December rate hike is also now priced in based on the forward rate curve. The Federal Reserve is set to release its latest Summary of Economic Projections alongside its interest-rate statement. Markets will assess whether the dot plot reflects expectations for another hike in December, while dissenting votes and the policy projections may provide more direction than the press conference.