Via Goldman:
At Janet Yellen’s final FOMC meeting next week, we expect the FOMC to issue a generally upbeat post-meeting statement that includes an upgrade to the balance of risks and a slightly hawkish rewording of the inflation assessment. Taken together, we believe the tone of the statement will be consistent with a hike at the March meeting, barring a sharp weakening in economic conditions.
We think Fed officials will view the economic activity data released since the December meeting as broadly encouraging, particularly the strong holiday-shopping season and the related 3.8% increase in Q4 consumer spending.