Traders expect no surprises with the anticipation that The Fed will raise its benchmark federal-funds rate to a range between 1.75% and 2%. However, this is certainly not set in stone as the central bank is entering a delicate policy phase as the economy expands.

Related: Are U.S. Interest Rates About to Rise Again?

“The immediate market reaction [to the Fed]is likely to colored by whether the median forecast in the dot plot moves to four hikes this year. We think it will, but would caution against reading too much into this measure which is always prone to discrete jumps,” said Adam Cole, a chief currency strategist at RBC Capital Markets.

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