Interest rate hike possible, says Federal Reserve

In just a couple hours, we could find out if the Federal Reserve will raise interest rates again.

COLUMBIA, S.C. (WOLO)— In just a couple hours, we could find out if the Federal Reserve will raise interest rates again.

The Federal Reserve has raised rates eight times since March 2022, the most recent increase was in February when they went up a quarter point.

Some analysts say the collapse of two U.S. banks this month could cause the Federal Reserve to hold rates steady and give the U.S. economy some breathing room.

Economists say the Fed’s repeated rate hikes are an attempt to curb inflation back down to the Central Bank’s goal of around 2%.