Why the Fed might raise interest rates for first time since 2023

The Federal Reserve is expected to raise interest rates this Wednesday, marking the first increase since 2023. Market data indicates a 93% probability of this hike, signaling a transition toward tighter monetary policy. This strategic shift is anticipated to influence bond markets, increase consumer borrowing costs, and affect overall economic growth. Business experts highlight that this move represents a significant change in the Fed's approach to managing the economy after three years of stability.