Federal Reserve officials will meet today and tomorrow to update the nation's monetary policy. They'll make an announcement after the conclusion of the meeting tomorrow, and the markets see a rate hike as a done deal.
At 2 p.m. tomorrow afternoon, the Fed will release a policy statement, revised economic forecasts and “dot plot” projections of future rate hikes. Fed Chairwoman Janet Yellen will hold what is likely to be her final press conference immediately afterward.
A Fed rate hike later that day appears all but certain, with Fed fund futures markets giving the move 90 percent odds. It would be the Fed’s third quarter-point bump this year, raising the Fed funds rate to a range of 1.25 percent to 1.5 percent.
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