The Federal Reserve began its two-day meeting Tuesday, and economists expect the central bank to announce a third consecutive three-quarter point rate hike.
“This is really moving into restrictive monetary policy territory. We will be moving into no man’s land,” said one economist. “We actually haven’t tightened policy to fight inflation since the early 1980s.”
Any surprises may come in the Fed’s quarterly projections on inflation, the economy and interest rates.