Federal Reserve Expected to Deliver Rate Increase

Peace and Freedom

Central bank is likely to lift its benchmark interest-rate range to between 1% and 1.25% after its meeting concludes Wednesday

Janet Yellen arrived for a Group of Seven meeting in Bari, Italy, in May. The Federal Reserve chairwoman will speak at a 2:30 p.m. EDT press conference Wednesday.

Janet Yellen arrived for a Group of Seven meeting in Bari, Italy, in May. The Federal Reserve chairwoman will speak at a 2:30 p.m. EDT press conference Wednesday.PHOTO: ALBERTO PIZZOLI/AGENCE FRANCE-PRESSE/GETTY IMAGES

The Federal Reserve is likely to raise short-term interest rates by a quarter percentage point after its two-day policy meeting concludes Wednesday, the fourth such increase since December 2015. Officials also will release new projections for the economy and interest rates, and could announce their plan for shrinking the Fed’s portfolio of Treasury and mortgage bonds. The central bank will release a statement and the forecasts at 2 p.m. EDT, and Fed Chairwoman Janet Yellen holds her quarterly press conference at 2:30 p.m. Here’s what to watch for:

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