92% probability of a 25 basis-point increase on Wednesday, per CME FedWatch tool, which would lift the benchmark rate to 3.75%-4.00% — the first hike since July 2023.
Fed Chair Kevin Warsh faces a political showdown with the Trump administration, which has been campaigning for drastic cuts to 1% or less.
Markets Signal Caution Ahead of Decision
The Dow Jones Industrial Average fell 328 points on Tuesday,...
