by Calculated Risk on 9/14/2015 06:17:00 PM

From Reuters: Credibility, 'gradual' approach at stake as Fed weighs rate rise

A broad group of economists polled by Reuters last week bet on a September move by a slim margin; economists at banks that deal directly with the Fed, known as primary dealers, picked December as more likely; and traders of short term interest rate futures were giving a rate rise this week only a one-in-four chance.
...
As recently as July, Yellen, who took over the Fed's reins in early 2014, appeared to make the case for a September move, telling a congressional hearing that waiting longer could mean the need to hike more rapidly later. "An advantage to beginning a little bit earlier is that we might have a more gradual path," she said.
emphasis added

This will be an interesting announcement!

Tuesday:
• At 8:30 AM ET, Retail sales for August will be released. The consensus is for retail sales to increase 0.3% in August, and to increase 0.2% ex-autos.

• Also at 8:30 AM, NY Fed Empire State Manufacturing Survey for September. The consensus is for a reading of -0.5, up from -14.9.

• At 9:15 AM, the Fed will release Industrial Production and Capacity Utilization for August. The consensus is for a 0.2% decrease in Industrial Production, and for Capacity Utilization to decrease to 77.8%.

• At 10:00 AM, Manufacturing and Trade: Inventories and Sales (business inventories) report for July. The consensus is for a 0.1% increase in inventories