Fed Seen Likely to Raise U.S. Interest Rates Today

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00000445-fed-seen-likely-to-raise-us-interest-rate/

WASHINGTON – With the U.S. economy picking up steam, the year’s fourth straight interest-rate hike looked like a certainty at Wednesday’s meeting of the Federal Reserve’s Open Market Committee, economists said.

Last Friday’s employment report for October, which showed an unexpectedly large 337,000 job gain, has also made it more likely the U.S. central bank will raise rates again in December in its campaign to boost borrowing costs from rock-bottom levels and keep price pressures tamped down.

The policy-making FOMC is set to meet at 9 a.m. EST on Wednesday and any announcement of the panel’s actions will likely come around 2:15 p.m. EST.

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