RBC Capital Trading Desk Commentarey Sees 'Fed fatigue', Offers 4 Possible Outcomes

1. 25 bp hike, and wording that they are “done for the near term.”

2. no hike, but add a press conference to the October meeting schedule (meaning they hike then).

3. no hike, but wording that the macro data is more compelling in requiring a hike.

4. no hike, no change of wording, hawkish tone by Yellen would be the biggest surprise of them all.