Fed chair Warsh likely to hike rates after inflation surge

Federal Reserve Chair Kevin Warsh is poised to raise the benchmark rate Wednesday, as markets anticipate a hike after inflation remains above the Fed’s 2% target and the 10‑year Treasury bond hit 5% for the first time in three years.

A quarter‑point increase would lift the Fed’s benchmark to about 3.9%, restoring confidence in the 2% target and potentially lowering the inflation premium.

The Fed will release its quarterly economic projections Wednesday, providing clues about future hikes and the timing of additional increases in December and March.

Read the full story at Global News.