Oakland News Today | 2 Min News | The Daily News Now!
The Fed is poised to raise rates for the first time since 2023, signaling a major shift as inflation surges amid rising gas prices and global tensions. With three board members voting to hike rates — the most dissent in a decade — markets bet on a quarter-point increase, giving it a 94% chance. Despite strong job growth and economic expansion, high costs are squeezing consumers. Fed Chair Kevin Warsh says fighting inflation is top priority, even as the economy shows resilience.
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This is an automated, high-level news summary based on public reporting.
Sources:
https://abc7news.com/story/federal-reserve-expected-raise-interest-rates-first-time-2023/19838663/
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