Here’s everything the Fed is expected to announce, including the biggest rate hike in 28 years

The Federal Reserve on Wednesday is expected to do something it hasn’t done in 28 years — increase interest rates by three quarters of a percentage point. In response to soaring inflation and volatile financial markets, the central bank will hike the rate that banks charge each other for overnight borrowing to a range of 1.5%-1.75%, where it hasn’t been since before the pandemic crisis began. … Goldman Sachs said new language in the statement could indicate that the rate-setting Federal Open Market Committee “anticipates that raising the target range expeditiously will be appropriate until it sees clear and convincing evidence that inflation is moderating,” implying a high bar for reverting to [25 basis point] hikes.”
Source: CNBC