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 Dow Jones Industrial Average surpassed 40,000 points on Thursday for the first time ever, signaling...
US workers at John Deere plants have accused the company of acting on “greed” as America’s...
US corporations and their supporters in Washington are pushing aggressively to roll back tax policies they...
