There's a 100 percent chance the Fed will raise interest rates at its meeting Monday and Tuesday. However, what is not certain is what they will say after the meeting. Investors will be watching (or more precisely, listening) for any hint that this is may be the last rate hike in the Fed's war on inflation. If there is a strong signal that the Fed is planning to put rate hikes on hold for a while, look for the markets to react dramatically. Of course, if the Fed signals more rate hikes are coming, there could be a strong reaction also, but in a southerly direction.

MARKET NEWS: The markets ended the week on an up note, but just barely. Investors may be holding their breath in anticipation of the Fed meeting next Monday and Tuesday.