The Federal Reserve would lose credibility if it doesn’t raise rates Wednesday, according to Charles Schwab’s chief investment strategist, Liz Ann Sonders. ‘We think they move off of the zero bound,’ Sonders said. ‘I think they’ve certainly been telegraphing that.’ The markets are pricing in an 81 percent chance the Fed lifts interest rates off of crisis-era levels when it wraps up its last policy meeting of the year on Wednesday. Following the initial rate hike, Sonders thinks there will still be an obsession with the Fed in 2016. ‘We start to lose some of those negative year-over-year comparisons in terms of commodity prices on the downside and the dollar on the upside,’ she added. Sonders speaks with TheStreet’s Scott Gamm in New York.
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