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Federal Reserve Expected to Increase Benchmark Interest Rate
Just the facts
The Federal Reserve is broadly expected by financial markets to increase its benchmark interest rate to counter ongoing inflation pressures. The anticipated rate hike occurs despite public demands from President Trump for the central bank to lower or maintain current rates. Federal Reserve officials have reiterated their commitment to making monetary decisions independently based on economic metrics. The central bank's policy decision will affect lending rates across commercial banks, mortgages, and consumer loans.
Why this is news
Financial markets anticipate that the Federal Reserve will raise its benchmark interest rate at its upcoming monetary policy meeting, despite repeated calls from President Trump to hold rates down.
Sources
This summary is compiled strictly from the original reporting below.