Uncertainty leads to ambiguity, says Morgan Stanley economist Ellen Zentner, and that indicates there won't be much clarity on interest rates today -- or any time soon.

The Federal Reserve is likely to leave them unchanged at its July meeting, which ends today, she says, an assessment shared by Bank of America Merrill Lynch economists and futures traders. If correct, rates would remain at a range of 0.25% to 0.5% set in December with the first increase since they were cut to nearly zero during the financial crisis.

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This article was written by a staff member of TheStreet.