US Futures Rise Ahead of Expected Federal Reserve Rate Hike

US futures rose ahead of the Federal Reserve's decision on interest rates, with expectations that they will move higher for the first time in over three years.

The Fed's decision is highly anticipated, and economists believe that Chairman Kevin Warsh has boxed himself into a rate hike after his recent speech warning about inflation being above the 2% target.

Last week's data showing stubbornly high inflation bolstered expectations for higher rates, which can slow borrowing and cool costs.