The central bank is considered likely to raise its benchmark short-term rate by three-quarters of a percentage point, far larger than the typical quarter-point increase, to a range of 1.5% to 1.75%. It will also likely forecast additional large rate hikes through the end of the year.
A series of sizeable increases would heighten borrowing costs for consumers and businesses, likely leading to an economic slowdown and raising the risk of a recession. The Fed's previous rate hikes have already had the effect of raising mortgage rates roughly 2 percentage points since the year began and have slowed home sales.
On Friday, Americans across the country are participating in an economic boycott for 24 hours.
Organized by...
Donald Trump has said he will announce new 25% tariffs on all steel and aluminum imports...
President Donald Trump signed an memorandum on Thursday instructing his administration to pursue reciprocal tariffs against...
