Wednesday, 14 December 2016

Federal Reserve set to raise interest rates

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The markets want to hear whether the Trump economy could jolt the Fed into a faster pace of interest rate hikes, but there's little chance the Fed will send that message Wednesday, when it is expected to raise interest rates for the second time in 10 years. Fed watchers say the Fed is unlikely to tip its hand or tell a different story than it already has for next year, though it may give a nod to a better economy based on recent data and the low unemployment rate at 4.6 percent in November. 

The markets have been widely expecting the Fed to raise the Fed funds target rate by a quarter point, the first rate hike in a year. The Fed also is expected to release its economic and interest rate forecasts at 2 p.m., when it releases its statement. At 2:30 p.m., Fed Chair Janet Yellen speaks to the press.

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