July 25, 2023

Despite an improving inflation picture, the Federal Reserve is expected on Wednesday to approve what would be the 11th interest rate increase since March 2022.

Investors are hoping it will be the last one for a long time.

Markets are pricing in an absolute certainty that the Fed will approve a quarter percentage point hike that will take its benchmark borrowing rate to a target range of 5.25%-5.5%. That would push the upper boundary of the federal funds rate to its highest level since January 2001.

Read more:

https://www.cnbc.com/2023/07/25/heres-what-to-expect-from-the-federal-reserve-meeting-wednesday.html