Banking
Federal Reserve Opens Two-Day Meeting With Quarter-Point Rate Hike Expected Wednesday
via Kiplinger
The Fed's September 15–16 policy meeting opened today with futures markets and major banks pricing in roughly an 85% chance of a 0.25-percentage-point hike — which would lift the target range from 3.50–3.75% to 3.75–4.00%. Persistent energy inflation tied to Middle East supply disruptions and a strong labor market have pushed the central bank back into tightening mode after months on hold.
Why it matters
A rate increase flows quickly into credit card APRs, new auto loan rates, and variable-rate mortgage payments, making any new or revolving debt more expensive immediately.


