Wall Street heads into a pivotal week with the Federal Reserve's interest-rate decision on Wednesday expected to dominate trading, as investors prepare for what would be the central bank's first rate increase of the current cycle. Federal funds futures are pricing in roughly an 85% probability of a 25-basis-point hike. With the move largely expected, investors will focus on the Fed's policy statement and Chair Kevin Warsh's 2:30pm ET press conference for clues about the path for further rate increases. The decision comes after hotter-than-expected inflation data and a sharp rise in oil prices. Brent crude was above $107 a barrel early Monday, adding to concerns that higher energy costs could keep inflation elevated.
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