Fed Decision Looms as Markets Expect Rate Hike

The Federal Reserve is widely expected to hike interest rates for the first time in over three years, but the extent of the increase remains uncertain.

Markets are nearly certain that the Federal Open Market Committee will vote to hike rates, with a wide margin predicted by CNBC's Jeff Cox. The 10-year U.S. Treasury yield surged to its highest level since 2007 yesterday, and stocks have logged back-to-back losing sessions this week as investors reduce exposure ahead of the Fed's announcement.

Nvidia CEO Jensen Huang spoke out against antitrust exemptions for AI companies, saying they are 'completely unnecessary.' However, OpenAI CFO Sarah Friar downplayed concerns about slowing development, stating that even if progress is halted today, 'the amount of intelligence available in the world is massive.'