The Federal Reserve is expected to raise its benchmark interest rate by another 25 basis points to a range of 5%-5.25%. That is seen by many as high enough to slow the economy and cool inflation.
The Federal Reserve is expected to raise its benchmark interest rate by another quarter of a percentage point on Wednesday, in what could very well be the last rate hike of this cycle, economists said.
The 25-basis-point move would push the Fed’s benchmark interest rate to a range of 5% to 5.25%. That is seen by many as high enough to slow the economy and cool inflation.
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