Live updates: Federal Reserve set to hike rates by a quarter percentage point
Investors are watching the Federal Reserve as it wraps up its two-day meeting Wednesday afternoon. Markets are expecting the central bank to raise interest rates by a quarter of a percentage point. This would bring the benchmark funds rate to 5% to 5.25%. Fed Chair Jerome Powell will also speak at 2:30 p.m. ET, and investors will search for indications on whether policymakers will pause on future rate hikes.Stocks ticked higher as the Federal Reserve's 2 p.m.
Bond yields were lower, with the rate on the 10-year Treasury down about 6 basis points to 3.37%. The rate on the 2-year Treasury was 3.92%, down 5 basis points.
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