Federal Interest Rate Rise

James Palinsad / CC BY-SA 2.0

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We’ll know if the Federal Reserve raises interest rates again at 2 p.m. eastern time Wednesday.

Most economists and investors think the central bank will.

That’s because even though inflation has cooled significantly to about three percent it’s still not where the Fed wants it.

The bank held rates steady at its last meeting which also makes it more likely to raise rates this month.

The question will then become how long before another hike comes along?

Economists believe hikes are possible in September and November.

But that all depends on how the economy behaves between now and then.

If the expected rate hike happens Wednesday, it will mark the twelfth since last spring, and the highest rate in 22 years.

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