The market says a Fed rate hike is a done deal. Here's why it might hold steady.

Markets price in an 85-90% probability of a Federal Reserve rate hike this week, but key Fed officials including John Williams and Chris Waller remain unconvinced. August CPI data showed inflation higher than expected, strengthening the case for a hike, though some analysts like Adam Posen still expect the Fed to hold rates steady given recent dovish signals from committee members.