This Is Not The Last Fed Rate Hike

The expectation for a lot of people is that this is the last hike of this cycle, period, and I think the Fed dot plots along with most of the Fed speeches, the things they said don't agree with that, notes Bob Iaccino. He previews the FOMC announcement today at 2pm ET. He discusses how the Fed is expected to raise rates 25 BPS and move rates to the highest level in 22 years. He then goes over how crude oil (/CL) hits 3-month high. He looks at the EIA Petroleum Status Report for the week of July 21st. He also talks about gold as an inflation hedge and a weak dollar impact on commodity prices. Tune in to find out more about futures and the stock market today.