Fed meeting and $11 billion Bitcoin expiry collide before $11 billion expiry, markets brace for December rate decision

The Federal Reserve meets Wednesday to Friday, with CME FedWatch assigning 90.6% odds of holding rates steady, down from 64.2% a month ago. $11 billion in Bitcoin options expire this week. Economists expect PCE inflation data Thursday to show prices 3.7% higher yearly, above the Fed's 2% target, which could influence December rate odds currently at 68%. A hotter inflation reading would strengthen the case for a December hike, while cooler data could weaken it.