High inflation in sight, U.S. Fed to signal more rate hikes ahead

The U.S. Federal Reserve is expected to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would boost its benchmark rate — which affects many consumer and business loans — to a range of 3 per cent to 3.25 per cent, the highest level in 14 years.
Source: ctv business
High inflation in sight, U.S. Fed to signal more rate hikes ahead