The past week has been a trying one with major political events dividing attention, including FBI director James Comey's damning testimony and a U.K. election with no decisive victor.
The upcoming week, thankfully, is a lot simpler with just one main through-line: the Federal Reserve.
Markets expect few surprises there. A June rate hike has been widely expected since Fed commentary in recent weeks suggested there were more hawks than doves. Members have pointed to a tightening job market, the risk of being behind the curve on inflation, and a generally healthy economic recovery.
The Federal Open Market Committee, the monetary policy arm of the central bank, will convene for its two-day meeting on Tuesday, culminating in an announcement on Wednesday afternoon.
Wall Street is incredibly confident in a rate hike -- CME Group fed funds futures have priced in a more than 99% chance of a 25-basis-point increase. Should the Fed raise rates, it will be the second of three expected hikes this year.
"We would think it's unlikely that the Fed would throw in a surprise to the market and not move interest rates," Mark Heppenstall, chief investment officer at Penn Mutual Asset Management, said in a phone call. "I think there would be the potential for 'what do they know that we don't know' type of mindset among investors if they weren't to deliver on their tightening."
The Fed will also release updated economic growth and rate hike forecasts, while Fed Chair Janet Yellen will hold a press conference mid-afternoon Wednesday.