Forex
Futures Rise as US Prepares for First Interest Rate Hike in Over Three Years
US futures rose on Wednesday ahead of the Federal Reserve's decision on interest rates. The central bank is expected to increase rates for the first time in over three years. This move would help slow borrowing and cool costs, as inflation remains above the Fed's 2% target.
The expectations for a rate hike were fueled by data released last week showing stubbornly high inflation. Federal Reserve Chair Kevin Warsh had previously warned that inflation is a concern, which has put pressure on him to take action.