Prediction markets indicate a high likelihood that Federal Reserve Chairman Kevin Warsh will announce a rate hike at Wednesday's September FOMC meeting, which would be the first increase since July 2023. Benzinga viewers were divided on the market impact: 49% expected the SPDR S&P 500 ETF Trust (SPY) to finish higher, 33% lower and 18% unchanged. SPY closed Tuesday at $757.39 and was up about 0.3% at $759.60 when the report was written. Investors were expected to focus not only on the decision, due around 2 p.m. ET, but also on commentary about potential additional hikes in 2026 and 2027. The Federal Reserve has FOMC events scheduled for October and December this year.