Financial markets overwhelmingly expect the Federal Reserve to raise interest rates after its highly anticipated two-day policy meeting on Sept. 16.
The Fed will announce at 2 p.m. whether it will hike the benchmark federal funds rate by a quarter point—the first since July 2023—or hold steady.
Investors are penciling in a 95 percent chance of a rate hike, and a new CNBC Fed Survey suggests a majority of economists and strategists expect the Fed to increase rates.
The White House says it will accept whatever Chairman Kevin Warsh chooses to do.
“We respect whatever he does tomorrow; we’re going to respect the process and understand that he’s doing what he and the committee think is correct,” National Economic Council director Kevin Hassett said on CNBC’s “Squawk Box” on Sept. 15….