Looming over the Federal Reserve meeting that ends Wednesday is a question of intense interest: Just how high will the Fed's inflation-fighters raise interest rates — and might they slow their rate hikes as soon as next month?
The Fed on Wednesday is expected to announce a hefty three-quarter-point hike in its key short-term rate — its fourth straight — which will lead to still-higher loan rates for many businesses and consumers. What many Fed-watchers hope is that Chair Jerome Powell will hint at a news conference that the central bank may ease the pace of its hikes, perhaps to a half-point in December and two quarter-point hikes next year.
