Markets price an 88% chance of Fed rate hike September 16

Markets put about an 88% chance on the Federal Reserve raising interest rates Wednesday, September 16, 2026, MarketWatch reported. The decision lands at 2 p.m. Eastern, per Kiplinger. The Fed has held rates steady all year, MarketWatch reported. A hike would mean higher borrowing costs. I read that 88% as investors betting heavily, not a guarantee.