The Federal Reserve expected to make history with another interest rate hike today

The Federal Reserve is expected to either raise its key short-term rate by three-quarters of a point for the third time in a row, to 3% or hike it by one full percentage point to three-and-a-quarter percent

CNN— The Federal Reserve is expected to either raise its key short-term rate by 3/4 of a point for the third time in a row, to 3% or hike it by one full percentage point to three-and-a-quarter percent.

The Central Bank kicked off its two-day meeting Tuesday and is scheduled to announce its decision this afternoon.

Wall Street is divided on whether the Federal Reserve will keep hiking rates aggressively in November or if inflation pressures will cool enough to allow the fed to slow the pace for a bit.