US Central Bank Set to Raise Interest Rates for First Time in Three Years

What Is Happening

Federal Reserve officials are expected to raise interest rates today for the first time in three years. This decision by the US central bank comes even though former President Donald Trump has demanded lower rates and his new Fed chairman takes office. As markets react to the upcoming policy shift, the Dow Jones Industrial Average has slipped in live trading.

Background and Context

Previous updates show that the Federal Open Market Committee faces intense pressure as it prepares to announce this monetary policy change. Analysts and live updates from major financial networks note that this move marks a major shift in American economic policy after a long period of steady rates.