Most Analysts Believe Fed Won’t Raise Interest Rate Today
Sep, 17th 03:26
Wall Street is skeptical that the Federal Reserve has room to raise short-term interest rates Thursday, underscoring persistent doubts about the health of the global economy and financial markets following seven years of easy policy.
Some of the biggest names in the financial industry say a rate rise now would be unwise. And some executives whose firms would benefit from higher rates nevertheless don’t expect an increase Thursday. The view marks a sharp reversal from earlier this year, when a mid-2015 increase was widely expected.
The central bank Thursday afternoon is expected to disclose its decision on the short-term benchmark interest rate at the conclusion of its two-day policy meeting. The Fed has kept rates near zero since December 2008 in a bid to hold down financing costs for consumers and businesses and bolster economic growth. It hasn’t raised rates since June 2006.