Eyes On Fed: Central Bank Expected To Raise Rates Wednesday

As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession.

At a glance

  • The expected rate hike would come roughly a week after a higher-than-expected inflation report.
  • The Dow Jones Industrial Average slip roughly 300 point Tuesday, ahead of the expected interest-rate increase.
  • The Fed has impose a series of aggressive interest rate hikes in recent months – in attempt to lower prices by slowing the economy and consumer demand.
  • Many economists expect another 0.75% hike Wednesday, with some predicted as much as a 1% increase, which the Fed has not done in four decades.

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