The Fed Is Likely to Hike Rates Again This Week

“The Fed is expected at its latest meeting to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would lift its benchmark rate — which affects many consumer and business loans — to a range of 3% to 3.25%, the highest level in 14 years,” the Associated Press reports.

Wall Street Journal: “The moment underscores the Fed chairman’s rapid about-face during one of the most tumultuous periods for the economy and central bank since the 1970s. After championing an aggressive stimulus campaign just 12 months ago, he has this year led the most rapid tightening of monetary policy since the early 1980s.”