What to watch for during the Fed meeting

Fed left interest rates unchanged at it's last meeting on 26-27 July but left the door open for an increase by year-end, indicating that this could happen as early as September. Recent comments have indicated that the economy is standing on solid ground and that the risks to the economy have decreased after June. The meeting is today at 21:00 and here are some things to watch for:

When will be the next increase of interest rates
Investors are increasingly convinced that central banks will raise interest rates this year, despite expectations. In the news we can expect Fed to raise the speculations for a move during 2016. Although the statement does not mention exactly when this will happen, they could offer some guidance on how possibly is a move by the end of the year.

Brexit
The minutes may give insight into the debate on the possible effects after the vote UK to leavethe EU. On August 4, a few weeks after the Fed meeting, the Bank of England cut interest rates to their lowest levels and turned back the program to buy bonds. Moreover we may learn whether Fed's expected BoJ actions and how this will affect the US economy.

Inflation
We may also hear whether the expectations for lower interest rates will be implemented and whether discussion has begun on plans to cope with inflation, if it really fells despite the robust labor market.

Balancing risk
During July's the meeting Fed sounded optimistic about the risks to the economy. From the protocol we can learn how it was discussed and whether there are contingents to those who are more optimistic and more negative towards risks.

US presidential election
Research shows that the election may be a leading factor Fed to keep increasing interest rates in September. It is not unusual for central banks to make important economic decisions as a result of the presidential vote. In the past three decades, they have done so in all elections except in 1996. It is uncertain whether this will be discussed today, but it is something that can be kept into consideration.