Fed Rate Hike Expected to Spark More Increases

The Federal Reserve is expected to raise interest rates next week, and most officials believe that one increase won't be enough to bring inflation down.

Richard Clarida, a former Fed vice chair, said 'if we get a hike next week, certainly we'll get additional ones.'

Raising rates seven weeks before the midterm elections would be complicated, and setting the Fed on a course for more increases could be even harder. President Trump has said he expects the new chairman to deliver lower rates.