Our poll shows that time is running out on ‘considerable time’ but it will be a close call.
The Fed will also release the latest projections alongside the statement. The previous ones were made in September. Look for a significant fall in PCE inflation but core will be more important for the market.
![September Fed projections](http://az705044.vo.msecnd.net/20141217/September-Fed-projections.png)
September Fed projections
The dot chart could also cause volatility. For some reason, the market takes it seriously when a Fed policymaker votes that he or she believes the appropriate level for rates should be 3% at the end of 2015.
![Dot chart Sept 2014](http://az705044.vo.msecnd.net/20141217/Dot-chart-Sept-2014.png)
Dot chart Sept 2014
Our full preview of the FOMC decision is here.
At 2:30 pm ET (1930 GMT) Yellen hosts a press conference.