Stocks tumbled on Tuesday as the sell-off on Wall Street mounted and investors braced for another large rate hike due out Wednesday from the Federal Reserve ...
It was the largest gain of any of the major U.S. [Norwegian Cruise Line](https://www.cnbc.com/quotes/NCLH) – Norwegian jumped 3% in the premarket after Truist Financial upgraded the stock to "buy" from "hold," pointing to a decrease in cancellations and subsequent rebookings at lower prices. Treasury note notched a fresh 15-year high on Tuesday as traders looked ahead to a decision out of the Federal Reserve's rate-hike meeting. The Euro slipped to 0.9959 against the dollar. At the same time, Ford and other automakers have pledge to spend billions on the transition to electric vehicles, pressuring their bottom lines in the near term. "With 3Q concluding in a few weeks, there's likely to be a fair amount of noise at the flows level with rebalancing in force. That compares to the current target range of 2.25%-2.5%. "Even so, markets will need to adjust significantly further if the more hawkish view of the labor market is right." The company was also upgraded by Morgan Stanley, who said it could be [the top retail drug plan for Medicare Advantage.](https://www.cnbc.com/2022/09/20/humana-could-be-top-retail-medicare-advantage-prescription-drug-plan-morgan-stanley-says-in-upgrade.html) Stocks remained in negative territory on Tuesday as the final hour of trading kicked off. [stocks rise in the afternoon](#107120905-HXDRk-8_k) and snap a two-day losing streak. The yield on the 10-year Treasury briefly topped 3.6% — levels not seen since 2011.
U.S. stock futures moved lower Tuesday as investors prepared for Federal Reserve officials to deliver another jumbo rate hike in their fight against ...
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The Dow Jones fell as the Federal Reserve meeting kicked off. Apple stock flexed. Coinbase dipped as Bitcoin fell. Ford stock nosedived.
It is shooting for an ideal entry point of 109.36, [according to MarketSmith analysis.](https://marketsmith.investors.com/) It now expects to deliver the vehicles to dealers in Q4. It gapped down through its 50-day line in massive volume, which is a sell signal. Ford ( [F](https://research.investors.com/quote.aspx?symbol=F)) nosedived after saying that supply costs are surging. It was the worst stock on the Dow Jones today after falling 4.5%. It finished well of highs for the day after slipping 2.9%. The stock, which slashed its full-year forecast last month, is now trading below all its major moving averages. Coinbase stock was suffering as Bitcoin fell once again. "The possibility of a full-percentage point rate hike cannot be entirely dismissed," MSCI Head of Portfolio Management Research Andy Sparks said in a note to clients. Consumer staples and technology gave up the least ground. "Wait times on many iPhone Pro 14 models are now four to six weeks for Apple customers and lengthening into November." West Texas intermediate crude oil slipped nearly 2% to trade at just over $84 per barrel.
Stocks have gained ground on and around Fed rate decisions this year --- though rallies have proved fleeting.
“With this in mind, we recommend not chasing rallies and using pullbacks as opportunities to accumulate favored stocks for the next bull market.” “Second, although the easing of inflation has been more stubborn than expected, there are a number of real-time indicators that suggest it will cool further in the months ahead (e.g., promotional activity, declining ocean freight rates, lower commodity prices).” Markets are pricing in a hike of 75 basis points, with futures showing a 16% chance of a full percentage point increase, according to CME’s FedWatch Tool. The S&P 500 shed 1.1%, and the Nasdaq Composite [COMP,](/investing/index/COMP?mod=MW_story_quote)slid 0.9%. Those bounces have so far proved fleeting, with the S&P 500 mired in a bear market and down more than 19% for the year to date. The New York Federal Reserve Bank studied data from 1994 to 2011, which showed the S&P 500 index normally rose 24 hours before the scheduled FOMC announcements.
A 75 bps point rate hike will confirm that the Fed is on its tightening path as per the earlier message sent out to the market.
But, if a 100 bps point rate hike comes through, it might surprise the market on the downside and the next leg of selling could be seen. US Fed was expected to deliver either a 50 bps or a 75 bps rate hike in the September 20-21 meeting. Several economists and market participants are expecting the rate hike to be either 75 bps or 100 bps.
Fed officials have talked in recent weeks about their determination to tame inflation , using whatever it took, despite any pain that may cause to the economy.
Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. [Gold Futures ](/commodities/gold)fell 0.4%, to $1671 an ounce. Investors have interpreted that to mean a recession could be in the future. We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. [Dow Jones Industrial Average ](/indices/us-30)was down 369 points, or 1.2%, while the [S&P 500 ](/indices/us-spx-500)was down 1.1% and the [NASDAQ Composite ](/indices/nasdaq-composite)was down 0.9%.
Chief Strategist John Kicklighter and Senior Strategist Christopher Vecchio, CFA discuss the September Federal Reserve rate decision.
Financial markets will need to contend with the (1) rate decision itself, (2) new economic forecasts, and (3) Fed Chair Jerome Powell’s press conference. In fact, after the release of the August US inflation report (CPI) last week, rates markets began discounting a 100-bps rate hike at the September Fed meeting tomorrow. Moreover, the September Fed meeting has elevated stakes insofar as it will be the first time since June that the FOMC has released a new Summary of Economic Projections (SEP). [oil](https://www.dailyfx.com/crude-oil) prices (and vice-versa). [FOMC](https://www.dailyfx.com/fomc). [US Dollar](https://www.dailyfx.com/us-dollar-index)have been consistently met with weakness in US stocks, [gold prices](https://www.dailyfx.com/gold-price), and [oil](https://www.dailyfx.com/crude-oil)prices.
By Peter Nurse. Investing.com - The U.S. dollar edged lower in early European trading Tuesday, but remained near a 20-year high as the market geared up for ...
We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. [USD/JPY ](/currencies/usd-jpy)rose 0.1% to 143.32, with the yen further weighed by the [United States 2-Year Treasury yield ](/rates-bonds/u.s.-2-year-bond-yield)climbing as high as 3.970% overnight for the first time since November 2007. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. [Bank of England ](/economic-calendar/boe-interest-rate-decision-170)will also decide policy on Thursday, and another interest rate hike is expected, either of 50 or 75 basis points. We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. Investing.com - The U.S. A hike by 1% point cannot be completely ruled out.” economy and inflation, we now expect the FOMC to front-load rate hikes and to reach its peak earlier. We expect the fed funds (upper) rate to peak at 4% in December instead of February,” said analysts at ABN Amro, in a note. [raised interest rates ](/economic-calendar/ecb-interest-rate-decision-164)by 75 basis points last week as the policymakers attempted to tackle inflation nearing double digits. [USD/SEK ](/currencies/usd-sek)rose 0.1% to 10.7734 and [EUR/SEK ](/currencies/eur-sek)climbed 0.2% to 10.8069 ahead of a meeting of Sweden’s [Riksbank ](/economic-calendar/interest-rate-decision-427)later in the session, which is expected to result in monetary tightening. The
The Federal Reserve began its two-day meeting Tuesday, and economists expect the central bank to announce a third consecutive three-quarter point rate hike.
"I think a 75 basis point move is pretty darn hawkish, the third one in a row," said Caron. "I think the message will be largely the same as Jackson Hole," said Michael Gapen, chief U.S. The chair stressed that the Fed will use economic data to guide policy, and he has also emphasized that policymakers will hold rates at high levels until inflation eases. "I think they're going to be a little light on the unemployment rate. There are some investors betting the Fed will raise rates by a full percentage point, but most economists envision a 75 basis point increase. "By increasing recession risks, you lower inflation risks because it's all about reducing demand in the economy," he said. I'm in the camp that they have to really increase the unemployment rate to really make progress with inflation," said Jim Caron, Morgan Stanley Investment Management's head of macro strategies for global fixed income. [CPI number](https://www.cnbc.com/2022/09/13/inflation-rose-0point1percent-in-august-even-with-sharp-drop-in-gas-prices.html) last week caused a lot in [terms of market repricing,"](https://www.cnbc.com/2022/09/14/stocks-could-retest-lows-after-augusts-inflation-shakes-up-markets.html?&qsearchterm=patti%20domm) said Peter Boockvar, chief investment officer at Bleakley Advisory Group. The Fed is expected to fire off another three-quarter point rate hike — its third in a row. The Fed has been lifting rates for seven months now, and will now be moving its target rate above what had been considered the neutral zone when inflation was low. That level is called the terminal rate. It will also release quarterly forecasts for inflation, the economy, and the future path of interest rates Wednesday at 2 p.m.
The Federal Reserve's September meeting begins today and would conclude tomorrow. While the majority of observers believe that the Fed might announce a.
[Treasury yields continue to move upwards ahead of the Fed’s meeting](https://www.business2community.com/stock-news/us-treasury-yield-rises-to-multiyear-high-before-feds-meeting-02550657). None of the traders saw rates rising above 4% by the end of the year. [invest in bonds](https://www.business2community.com/investing/how-to-invest-in-bonds). If that was not all, at the Jackson Hole Symposium, Powell dashed all hopes of interest rates cut in the near future. Notably, a month back, 45% of traders saw Fed funds rate between 3.50-3.75% by the end of 2022. While August CPI came in at 8.3%, and the metric has fallen for two consecutive months, on a monthly basis, August CPI rose 0.1%. The company arrived at the figure after contract negotiations with its suppliers. Corporate America is also feeling the impact of higher inflation. Meanwhile, Sweden’s Riksbank has increased its policy rates by 100 basis points. Treasury yields and prices are inversely related. The Federal Reserve’s September meeting begins today and would conclude tomorrow. Ford stock has crashed this year but billionaire investor Ray Dalio
Rates markets see a 100% chance of a 75-bps rate hike in September.
Rates markets see a 118% chance of a 75-bps rate hike in September (a 100% chance of a 75-bps rate hike and an 18% chance of a 100-bps rate hike), with additional 50-bps rate hikes fully discounted in November and December. [USD/JPY](https://www.dailyfx.com/usd-jpy): Retail trader data shows 29.49% of traders are net-long with the ratio of traders short to long at 2.39 to 1. To an extent, the market is suggesting that the last few Fed rate hikes may materialize in the coming months – with the bulk of the tightening efforts arriving this week, where a 75-bps rate hike is the base case scenario. Ahead of the Jackson Hole Economic Policy Symposium, the main rate was expected to rise to 3.552% by the end of 2022; it is now discounted to end the year at 4.208% (currently 2.50%). We can measure whether a Fed rate hike is being priced-in using Eurodollar contracts by examining the difference in borrowing costs for commercial banks over a specific time horizon in the future. September 7 – Barkin (Richmond president) bluntly stated that the Fed must raises rates to a level where they restrict economic activity. Now, 100-bps worth of rate hikes are fully discounted, with a 4% chance of a fifth 25-bps rate hike. Louis Fed’s website, said that “bringing today’sinflation rate back down to that 2% target is the top priorityfor the FOMC.” Having abandoned forward guidance to embrace a data dependent stance, the hotter than expected August US inflation report (CPI) and the strong August US nonfarm payrolls report have bolstered the case for an aggressive tightening effort. More importantly, the FOMC, collectively, appears comfortable with allowing US financial assets to fall and the US unemployment rate to rise if that means US inflation rates can be tamed. On August 1, there was one 25-bps rate hike priced-in through the end of 2022, with a 34% chance of a second 25-bps rate hike (50-bps in total by the end of the year). Evans (Chicago president) argued that “I think that we’ve got a good plan in place.
Wall Street ended Tuesday lower as the eve of a U.S. Federal Reserve meeting expected to bring another large interest rate hike brought further evidence of ...
[(GPS.N)](https://www.reuters.com/companies/GPS.N), closed 3.3% lower. [read more](/business/retail-consumer/gap-eliminates-500-corporate-jobs-amid-shrinking-margins-2022-09-20/) [(USBPE=ECI)](https://www.reuters.com/quote/USBPE=ECI) - among the more forward-looking housing indicators - slid by 10% to 1.517 million units, the lowest level since June 2020. The benchmark U.S. [(.SPLRCR)](https://www.reuters.com/quote/.SPLRCR) and materials [(.SPLRCM)](https://www.reuters.com/quote/.SPLRCM) sectors the biggest fallers, dropping 2.6% and 1.9% respectively. [(.DJI)](https://www.reuters.com/quote/.DJI) fell 313.45 points, or 1.01%, to 30,706.23, the S&P 500 [(.SPX)](https://www.reuters.com/quote/.SPX) lost 43.96 points, or 1.13%, to 3,855.93 and the Nasdaq Composite [(.IXIC)](https://www.reuters.com/quote/.IXIC) dropped 109.97 points, or 0.95%, to 11,425.05. The U.S. Sept 20 (Reuters) - Wall Street ended Tuesday lower as the eve of a U.S. [read more](/markets/europe/us-housing-starts-rebound-august-building-permits-decline-2022-09-20/) [(GM.N)](https://www.reuters.com/companies/GM.N) also sank 5.6%. [read more](/markets/us/fed-prepares-update-racing-odds-inflation-bucks-reins-2022-09-19/) [(FDX.N)](https://www.reuters.com/companies/FDX.N) was repeated, this time by automaker Ford Motor Co [(F.N)](https://www.reuters.com/companies/F.N).
Wells Fargo Securities' Michael Schumacher suggests the Federal Reserve should raise interest rates faster, despite risking panic on Wall Street.
"Look at the front end of the U.S. "If you think about the real yield, which a lot of people in the bond market focus on, it's probably not a bad place to hide out. Since the July Fed meeting, the Dow and Nasdaq are off about 5% while the S&P is down 4%. Super-stimulative fiscal policy in a lot of cases, especially the U.S. "The Fed knows what the destination is. It would be the Fed's fifth hike this year. "When you consider the last 10-plus years, we've had incredibly easy monetary policy for most of that time. But of course, the Fed won't do that." "It would do a huge move and then stop or stop pretty soon. And nobody wants that." "It would require incredibly good communication and confidence or the result: Carnage. "Why not just rip off the Band-Aid.
FOMC Meeting September 2022 Live Updates: The two-day Feederal Open Market Committee (FOMC) meeting of the US Federal Reserve began on Tuesday, 20 September ...
The press conference could be view directly on the official website federalreserve.gov or on the official Twitter handle @federalreserve. Expectation of big rate hike pushed the benchmark 10-year Treasury yield to hit its highest in over a decade. The press conference will be live at 2:30 pm ET or 12 am Indian Standard Time. Today, volatility could remain low as no major economic data is expected to be released from the US, it said. The U.S. Dow 30 was trading at 30,731.70, down 287.96 points or 0.93 per cent from the Monday closing. RBI`s intervention and dollar inflows remain the main driver of the rupee`s outperformance in the last few days," Dilip Parmar, Research Analyst, HDFC Securities, said. With Fed’s earlier proposed indicated target rates of 4.25% by 2023 , not too far off , will the Fed take an express route to these numbers of will reduce the pace of the hike, is to be seen. S&P 500 settled at 3,855.93, down by 43.96 points or 1.13 per cent from the Tuesday closing while Nasdaq Composite was trading at 11,425, lower by 109.97 points or 0.95 per cent. In the previous monetary policy announcement, the Central Bank had raised the rates by 75 bps while maintaining that it was committed to contain inflation at 2 per cent. The US Fed is expected to announce a hike of 75 basis points, making its fifth continuous hike this year. With the probability of a 100 basis point being close to only 19%, it has set the acts amongst the pigeons.
The meeting would conclude on 21 September 2022, around 11:30 PM IST, therefore the effect of the rate hike would be reflected in the Indian markets on 22 ...
The range is quite big for the next two days to account for heightened volatility. The current market environment is best suited for mean reversion trading as opposed to trend-following. However, the market might not react negatively to a 75 bps hike. The volatility is definitely quite high and not for novice traders. The 3rd consecutive 75-bps hike (which is almost certain) would throw the US economy closer than ever towards recession. The two-day FOMC meeting by the US Fed will kick off today which would be the next big event for the global markets including India.
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices BSE Sensex and NSE Nifty 50 are likely to open in red amid weak global ...
Short term support for the Nifty is seen at 17500 odd levels, which happens to be 34 days EMA. Short term support for the Nifty is seen at 17541, which happens to be the upgap support. Wall Street ended Tuesday lower as the eve of a U.S. The Nikkei 225 in Japan dropped 1% in early trade, while the Topix index fell 0.94%. Shares in the Asia-Pacific opened lower Wednesday, following Wall Street’s negative lead ahead of the Federal Reserve’s expected rate hike. USDINR(Spot) is expected to trade sideways and quote in the range of 79.40 and 80.05, according to forex analysts. Resistance for Nifty is seen at 18100 odd levels. In the previous session, rupee consolidated in a narrow range and settled higher against the US dollar as investors await the US Fed’s policy statement for further cues. From the day’s high of 17919, Nifty witnessed profit booking and fell more than 130 points in the closing hours to finish the day near 17780. On the flip side, above 17700, the index could retest the level of 17950-17800.” BSE Sensex was trading muted against the previous close, while NSE Nifty 50 crossed 17800. Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and NSE Nifty were trading weak on Wednesday as investors turned cautious ahead of US Fed meet outcome.
As investors brace for a hefty rate hike from the US Federal Reserve and clues on further hikes, the Fed is set to announce its decision at the end of a ...
US stocks drifted on Tuesday, September 20, while the treasury yields soared to their multiyear highs on worries over Fed's more aggressive monetary plans.
(TMO) and Danaher Corporation (DHR) ticked down 1.38 per cent and 1.62 per cent, respectively. The Sherwin-Williams Company (SHW) and Ecolab, Inc. Gold futures were down 0.30 per cent to US$1,673.10 per ounce. (LOW) plummeted 4.42 per cent and 2.40 per cent, respectively. (PFE) dropped by 1.45 per cent, and Novo Nordisk A/S declined by 1.79 per cent. (HD) fell 2.23 per cent, and Alibaba Group Holding Limited (BABA) slipped by 2.11 per cent. (ECL) were down 1.97 per cent and 2.08 per cent, respectively. [Dow Jones](https://kalkinemedia.com/definition/d/dow-jones-industrial-average) was down 1.01 per cent to 30,706.23. (VALE) retreated 1.40 per cent. In healthcare stocks, Eli Lilly and Company (LLY) plunged by 1.11 per cent, Pfizer Inc. The consumer discretionary, healthcare, and materials sectors were the laggards. The Gap, Inc.
“We are in a better position fundamentally. We never had zero interest rates and no ultra-loose monetary policies to trouble us. Fed rate hikes impact us as ...
[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). On the other hand, they could increase by 75 basis points and deliver a very hawkish message that there is still a lot to worry about. US private equity firm KKR and the Hero Group will invest $450 million in Hero Future Energies (HFE), they said on Tuesday. If they deliver that in the context of a message that we think we are beating inflation and the worst is behind us, it would ironically be a dovish 100 basis points. “August inflation data has opened the door to the possibility of a 100 bps rate hike after two consecutive hikes of 75 bps. [Nifty](/indices/nifty_50_companies)has somehow managed to survive the onslaught of bears that has hit the global market.
If the Fed hikes the rate by 75 bps, we dont expect a significant negative impact on the Indian market. In fact, after every 75 bps rate hike (as seen in ...
[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). At the most, the On the other hand, Wall Street has rallied each of the four times that the Fed hiked rates this year. Not only was it the biggest increase since 1994, but the Fed had also continued its policy of unwinding its record balance sheet. We expect a similar pattern to play out this time as well. “If the Fed hikes the rate by 75 bps, we don’t expect a significant negative impact on the Indian market.
For equity investors sunk in gloom, the interest rate rise expected from the Federal Reserve on Wednesday may actually yield some relief.
Potomac Wealth Advisors founder and president Mark Avallone says the market needs clarity from the Fed, earnings reports and inflation. Here are the key events ...
Crude stockpiles are expected to rise by almost 2.2 million barrels, following a larger-than-expected build of more than 2.4 million barrels the previous week. EXISTING HOME SALES: The National Association of Realtors is expected to say that sales of previously owned homes fell 2.3% in August to a seasonally adjusted annual rate of 4.70 million units. [FED LIKELY TO DELIVER MORE ECONOMIC 'PAIN' WITH ANOTHER SIGNIFICANT INTEREST RATE HIKE](https://www.foxbusiness.com/economy/fed-likely-deliver-more-economic-pain-another-significant-interest-rate-hike) The same witnesses are slated to testify virtually to the Senate Banking Committee led by Chairman Sherrod Brown, D-Ohio, on Thursday. Fed officials are expected to signal Wednesday that their benchmark rate could reach as high as 4.5% by early next year. will appear before the House Committee on Financial Services led by Chairwoman Maxine Waters, D-Calif., on Wednesday. Active clients fell 9% to 3,795,000. And more hikes are almost surely coming. [On a per share basis,](https://www.foxbusiness.com/category/stocks) the net loss was 89 cents, larger than the expected 63 cents. [The Fed's latest move](https://www.foxbusiness.com/category/the-fed) is expected to raise its benchmark rate to a range of 3% to 3.25%, the highest level in 14 years. [BIG BANK CEOS TO FACE TOUGH QUESTIONS ON CAPITOL HILL](https://www.foxbusiness.com/politics/big-bank-ceos-face-tough-questions-capitol-hill) THE FED: The central bank is expected to raise interest rates in the afternoon following the latest policy meeting.
Will it be 75bp or 100bp? Investment banks have recently raised their Fed rate hike forecasts from 50bp to 75bp. "A flurry of Fed officials in recent days have ...
A fresh round of interest rate hikes could mean higher borrowing costs for businesses and households. The results of the FOMC meeting are expected to set the tone of interest rates worldwide. The markets are already taking into account the odds of a bigger Fed hike. FILE PHOTO: The U.S. REUTERS/Jason Reed/File Photo All eyes are on the US Federal Reserve today as policymakers are set to wrap up their two-day meeting with another round of interest rate increase.
The market expects a 75 basis points rate hike and hence any surprise by Fed may spook the markets.
The rising interest rate scenario also poses a threat to US stock market investors. The Fed rate hike news may have been discounted by the stock market but the volatility may increase if the Fed throws up a surprise move. The investors, therefore, start valuing firms at a lower multiple as the growth rate of earnings falls.
Economic outlook: Part of this week's meeting will see Fed officials issue a quarterly update of their interest rate and economic outlook. While the Summary of ...
There's a corresponding scenario where inflation stays stubbornly high and the Fed has to keep raising, which he said is "a very bad alternative down the road." Household net worth fell more than 4% in the second quarter to $143.8 trillion, due largely to a decline in the valuation of stock market holdings, [according to Fed data](https://www.federalreserve.gov/releases/z1/20220909/z1.pdf) released earlier in September. "If inflation is really stubborn and stays high, they may just have to grit their teeth and have a recession that lasts for a while," said Bill English, a professor at the Yale School of Management and former senior Fed economist. In recent days, both Morgan Stanley and Goldman Sachs conceded that the Fed may have to raise rates into 2023 to bring down prices. "The consequences of not fighting inflation are greater than the consequences of fighting it. While individual names are not attached to projections, it will be interesting to see whether the new members are on board with the direction of Fed policy. [Jerome Powell](https://www.cnbc.com/jay-powell/) will hold his usual news conference following the conclusion of the two-day meeting. In June, the committee put the terminal rate at 3.8%; it's likely to be at least half a percentage point higher following this week's meeting. Economic outlook: Part of this week's meeting will see Fed officials issue a quarterly update of their interest rate and economic outlook. Rates: In its continuing quest to tackle runaway inflation, the Fed likely will approve a 0.75 percentage point hike that will take its benchmark rate up to a target range of 3%-3.25%. New kids on the block: One slight wrinkle at this meeting is the input of three relatively new members: Governor Michael S. That's the highest the fed funds rate has been since early 2008.