Trump is a major source of uncertainty for the Fed - Nomura

Analysts at Nomura argued that they think the most likely timing for the next rate hike is December.

Key Quotes:

"With the economy seemingly on track to grow above 2% in the second-half of the year, the labor market near full employment and inflation creeping towards the 2% target, the FOMC appear to be on track to raise rates this year.

However, Trump’s victory in the election is a major source of uncertainty.

After initially reacting negatively to the news, financial markets have bounced back. But if financial conditions reverse course and tighten, it could delay the Fed’s decision to raise rates."