Federal Reserve Expected to Raise Interest Rates for First Time in Three Years
Traders assign more than 90% probability that the Federal Open Market Committee will approve a quarter-point rate hike, according to CNBC.
The Federal Reserve is widely expected to raise its benchmark interest rate on Wednesday, which would mark the central bank's first rate increase in three years, according to a report from CNBC.
Traders have assigned a probability of more than 90% that the Federal Open Market Committee (FOMC) will vote to raise the overnight funds rate by a quarter of a percentage point, CNBC reported, citing market pricing.
The anticipated move would end a three-year period without a rate hike from the central bank. CNBC's report did not provide additional details on the specific economic conditions cited by the Fed for the expected decision or comments from Fed officials ahead of the meeting.
The FOMC's decision is expected to be closely watched by investors and economists for signals about the future direction of monetary policy.
Sources
- The Federal Reserve is expected to hike rates for the first time in three years: Live updates — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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