What to Expect as Powell Gets Ready to Raise Rates Again.

The Federal Reserve will probably announce another 0.75 percentage point interest-rate increase Wednesday. More important than the size of the latest hike is when the Fed will stop this tightening cycle. Given recent data and the likelihood of a higher terminal rate, the Fed will probably lift inflation forecasts, raise unemployment estimates, and lower GDP expectations. But the economic forecasts will likely still be too rosy. 

Fed Meeting Today

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