0708 GMT - Pictet Wealth Management expects a hawkish tone from Federal Reserve Chairman Kevin Warsh at his press conference after the FOMC meeting, reinforcing the central bank's commitment to delivering price stability and anchoring long-end yields. Senior economist Xiao Cui expects the Fed to raise rates by 25 bps to 3.75%-4.00% this week, with dissents likely from Govs. Waller and Bowman. The policy statement is likely to be little changed aside from reflecting the rate hike, consistent with Warsh's preference for a succinct statement and minimal forward guidance, the economist says in commentary. The median dot plot could show two rate increases in total this year [to 4.00%-4.25%], with the risk being no further hikes expected beyond this week. Beyond September, an increase in December may well be warranted, she adds.