The optimal solution for the Fed is to raise rates by 25, but not to imply a series of consecutive rate hikes. The market has already priced in tomorrow’s 25. There won’t be any major volatility. It’s even possible that, once the “shoe drops,” the market could rise. At the same time, the Fed’s independence and reputation are preserved, so it’s also a way to give Mr. Trump something to answer for. #美联储加息是否已成定局