Financial markets girded for a possible fresh bout of turbulence early on Wednesday ahead of the Federal Reserve’s meeting to weigh the first US interest rate hike in nine years.
An uncommon debate has raged over whether the US central bank should go ahead with a quarter-point increase to the federal funds rate that would nevertheless mark a crucial break with the Fed’s crisis stance since 2008.
By most assessments the US economy, with unemployment at 5.1% and moderate growth, is strong enough now that holding the rate at zero is no longer warranted.
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An uncommon debate has raged over whether the US central bank should go ahead with a quarter-point increase to the federal funds rate that would nevertheless mark a crucial break with the Fed’s crisis stance since 2008.
By most assessments the US economy, with unemployment at 5.1% and moderate growth, is strong enough now that holding the rate at zero is no longer warranted.
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