After stock markets powered forward (NASDAQ and Russell 2000 hit new all-time highs) and contentious trade talk continued, this week, the focus turns to the Federal Reserve. For the second time this year, policy makers are expected to raise short-term interest rates by a quarter of a percent to a new range of 1.75 to 2 percent. If so, it would be the sixth quarter-point bump since the current rate tightening cycle started in December 2015.
Read MoreGet ready for the first Fed rate hike of 2018. Newly minted Fed Chair Jerome Powell will preside over this week’s two-day meeting, where officials will also release their updated economic projections and future rate hikes. Analysts at Capital Economics believe that Fed “consensus is shifting from three to four rate hikes this year.”
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