Economy / Markets
Federal Reserve expected to deliver first rate hike since 2023
The Federal Reserve is widely expected to raise its benchmark interest rate by 25 basis points on Wednesday, ending a near-three-year easing cycle and putting the central bank at odds with President Donald Trump's preference for a cut. The move follows stubborn August core inflation running above target and a Jackson Hole speech by chair Kevin Warsh warning that underlying trends have not improved, with the September meeting also bringing an updated dot plot.