Today’s Lead Story
Friday, September 11Economy
J.P. Morgan Now Expects Fed to Raise Rates at September 16 Meeting
via J.P. Morgan Wealth Management
J.P. Morgan strategists reversed course this week and now expect the Federal Reserve to raise its benchmark rate by a quarter point at the September 15–16 FOMC meeting. The shift follows elevated energy prices and the Fed's divided July hold, which left borrowing costs at 3.50%–3.75%.
Why it matters
A rate hike next week would push up borrowing costs on adjustable-rate mortgages, home equity lines of credit, auto loans, and credit card balances almost immediately.
