I believe that the Fed will leave the door open for another rate hike today and that the FOMC will not hint at an end to the rate hikes until the increases actually end.If the Fed were to hint at an end to hikes before hand, any future rate hikes would be cannibalized by gains in the financial markets and thus rendered useless. For this reason, the end of hikes will be announced when the end has been reached and not signaled in advance. The key to today's statement might be any reference to the housing sector. The Fed certainly recognizes the importance that the markets are placing on housing and could well use it as a means of sending strong signals. Arguably, with the Fed likely to indicate "data dependency," there are no strong signals to send other than that future rate hikes will be data dependent. Another key might be any reference toward the lagged effect of past rate hikes or of "previous actions." A reference to either would be seen as indicating a forthcoming end to rate hikes, as the references would show that the Fed is cognizant that past hikes will soon have a greater impact on the economy than what has been seen so far. If there is a bias toward further rate hikes, it is likely to show that an end to rate hikes does not mean an end to tight policy. The Fed does not want the markets to price in the possibility of a rate cut because gains in the markets would be conducive to a strengthening of the economy, and the economy doesn't need any new stimulus. There could be important changes in the delivery of the policy statement given that former Fed Chairman Alan Greenspan penned the statements himself.