Our poll shows that time is running out on ‘considerable time' but it will be a close call.
The Fed will also release the latest projections alongside the statement. The previous ones were made in September. Look for a significant fall in PCE inflation but core will be more important for the market.
September Fed projections
The dot chart could also cause volatility. For some reason, the market takes it seriously when a Fed policymaker votes that he or she believes the appropriate level for rates should be 3% at the end of 2015.
Dot chart Sept 2014
Our full preview of the FOMC decision is here.
At 2:30 pm ET (1930 GMT) Yellen hosts a press conference.
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