I posted the thoughts of Westpac's chief economist Bill Evans last weekend ahead of the FOMC meeting

He was expecting a hike (as was I)

We all know now the Fed wimped out, running scared from the China (and global) volatility

Evans now expects a December hike in his weekly commentary piece

His article is reproduced here, not gated.

In summary:

  • Chair Yellen chose to highlight ongoing (labour market) slack. ... Our point has consistently been that there is still some slack in the labour market but certainly not enough to justify a need for zero interest rates.
  • The key sentence in the press release of the board of governors was: "Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term". It appears that these forces are the key reasons behind the Fed's decision to delay.
  • We now expect that the first move by the FOMC will be an increase of 0.25 per cent in December.

Much more at that link.