In the face of stubborn inflation, officials are expected to raise the central bank’s benchmark interest rate — the federal funds rate — to a new range of 3.0% to 3.25% from a current range of 2.25 to 2.50%. This would mark the third-straight 75-basis-point rate hike since June, bringing rates to their highest level since 2008.

“We do see a #risk of #recession, especially if the #Fed continues to get aggressive,” Luke Tilley, chief economist for Wilmington Trust, wrote in a note to clients. “They could overdo it and overcorrect. And that poses a risk to the outlook and could send us into recession.”

https://finance.yahoo.com/news/federal-reserve-eyes-historic-rate-hike-wednesday-192026594.html