NewsWare’s Trade Talk: Wednesday, September 21

S&P Futures are moving higher this morning as we get closer to this afternoon's FOMC announcement on monetary policy.  The Federal Reserve is expected to increase interest rates by 75 basis points to a target rate of 3.0% to 3.25% when it delivers it decision at 2 pm Eastern.  The U.S. dollar rose to 20-year highs this morning as Russian President Vladimir Putin called for a partial military mobilization of the country to prosecute his attack on Ukraine. The partial mobilization means that reservists will be drafted into military service.  The announcement, which included threats against the West, raised fears of a further escalation in the conflict. Oil futures are 2.5% higher this morning.