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The Fed: Here’s a cheat sheet for the Fed meeting

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Cramming for the 2pm test

Didn’t get time to study up for today’s Federal Reserve decision? Here’s a quick and dirty guide to all you need to know about what the U.S. central bank will do on Wednesday.

Interest rates:

The Fed is universally expected to raise the range for its federal fund target by 25 basis points to 0.5%-0.75%. This would be the first rate hike in a year.

Statement:

With rate hikes a hawkish move, the Fed is expected to offer soothing words in the statement. Economists think the Fed will stress it expects “gradual” increases in the federal funds rate going forward.

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