The Fed will announce its interest rate decision today, and Fed Chairman Jerome Powell will deliver a speech and answer questions. The Fed is expected to raise the interest rate by 25 basis points to a range of 4.75% to 5%.
The first interest rate meeting of 2023 was held between Jan. 31–Feb.1. The Fed raised its policy rate by 25 basis points at the first FOMC meeting in 2023, meeting expectations. The Fed raised the interest rate by 75 basis points 4 times last year. In Dec. 2022, the Fed slowed its interest rate hikes and raised the interest rate by 50 basis points.
