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.
The long legal battle to erase the debts of nearly half a million federal student loan...
Gas prices are up almost a dollar a gallon since the day Donald Trump took office;...
House Democrat calls Trump's new tariffs 'an end-run around the Supreme Court and Congress', not an...
