President Biden delivers remarks on the economy and job growth ahead of major Federal Reserve interest rate decision on Wednesday.
The Federal Reserve is widely expected to raise its fed funds target rate by a half-percentage point Wednesday, but investors will be more focused on whether it signals it could get even tougher with future rate hikes.
The Fed also is expected to announce the start of a program to wind down its roughly $9 trillion balance sheet by $95 billion a month, starting in June. The 50-basis-point hike would put the fed funds target rate range at 0.75% to 1%. A basis point equals 0.01%.
That target rate after this week’s boost would be well off zero, but way below market expectations for a funds rate above 2.8% by year-end.
» Subscribe to CNBC TV:
» Subscribe to CNBC:
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:
#CNBC
#CNBCTV
LIVE: President Biden delivers remarks on economic growth, jobs and deficit — 5/4/2022
