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2-Day Federal Reserve Meeting Begins Today; Rate Hike Expected
Tuesday, March 20, 2018 6:50 AM

The Federal Reserve's monetary policy-setting arm, the Federal Open Market Committee (FOMC) begins a two-day meeting today, led for the first time by incoming Board Chair Jerome Powell.

The meeting is widely expected to end with a quarter-point rate increase.

The federal funds target rate was last increased by a quarter-point to a range of 1.25 to 1.5 percent during the FOMC's December meeting. Also during the December meeting, the committee revised its projections to three quarter-point rate hikes in 2018 and two or three in 2019.