April 22, 2024
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Business Politics

Inflation-fighting Fed expected to signal March interest rate hike

Published by
Reuters

By Howard Schneider WASHINGTON (Reuters) -The Federal Reserve is expected on Wednesday to signal plans to raise interest rates in March as it focuses on fighting inflation and sets aside, at least for now, economic risks posed by the ongoing coronavirus pandemic, a bout of market volatility, and Western fears of a Russian invasion of Ukraine. The policy decision, due to be released at 2 p.m. EST (1900 GMT) after a two-day meeting, won’t commit the U.S. central bank to a particular course of action when its rate-setting committee meets again in seven weeks, and for now the benchmark overnight i…

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