US Federal Reserve Is Expected To Raise Its Benchmark Interest Rate
New York (June 13) The US Federal Reserve is expected to raise its benchmark interest rate. A tightening labor market and plans to shrink its bond portfolio are behind the Fed's plans.
The central bank will announce their decision on Wednesday at 2pm EST
The Fed began its first tightening cycle in a decade in December 2015.
"The expectation of a rate hike is widely held, and has been reinforced by the most recent round of Fed communications," said Michael Feroli, an economist with J.P. Morgan.
Source: TheStreet
