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Fed expected to raise interest rates, may signal fewer hikes ahead

The Fed's tightening is designed to reduce the monetary policy boost to a US economy that is now growing much faster than central bank policymakers think it can sustain

Reuters  |  Washington 

The U.S. Federal Reserve is expected to raise interest rates on Wednesday, but may cut the number of hikes it anticipates next year and signal an earlier end to its monetary tightening in the face of financial market volatility and rising recession fears. The central bank is due to announce its decision at 2 p.m. EST (1900 GMT) after its final two-day policy meeting of the year. Fed Chairman Jerome Powell is scheduled to hold a press conference half an hour later. Investors widely expect the Fed will lift borrowing costs by a quarter of a percentage point to a range of between ...

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First Published: Wed, December 19 2018. 22:13 IST