US Futures Rise Ahead of Expected Interest Rate Hike

US stock futures rose on Wednesday as investors await the Federal Reserve's decision on interest rates. The central bank is expected to hike rates for the first time in over three years, with inflation remaining above the Fed's 2% target.

Federal Reserve Chair Kevin Warsh has boxed himself into a rate hike after warning of stubbornly high inflation last month. This move puts him at odds with President Donald Trump, who wants the Fed to cut interest rates.

U.S. data released last week showed that inflation remains high, bolstering expectations for higher rates. Higher interest rates can slow borrowing and cool costs.

Futures for the S&P 500 gained 0.2% on Wednesday, while futures for the Dow Jones Industrial Average climbed 0.1%. The Nasdaq rose 0.4%.