Today marks the start of the Federal Reserve’s November meeting, which many expect will result in the fourth-straight 75 basis point interest rate hike. The move would take its benchmark interest rate, which influences almost all consumer borrowing costs in the economy, past levels not seen since a brief period between late 2007 and early 2008.
But as recession risks in the U.S. rise and turmoil mounts across the globe, Fed watchers will be focused on whether this month’s rate hike could be the last of its size. Before the year comes to a close, the Federal Reserve is expected to start debating when it should begin hiking rates in smaller increments — by half a point or even by the more traditional quarter point.
However, the question is whether the Fed is in a hurry to slow down as the labor market remains robust and inflation stays hot.
All eyes will be on the central bank’s statement and Fed Chair Jerome Powell’s press conference to follow.
Get instructions on how to enable our Flash News Briefing skill to your Amazon devices: