Traders and economists remain split on whether the Federal Reserve will raise its benchmark policy rate on Wednesday, as more actions by the world's major central banks to stem banking strains and the fallout from the takeover of Credit Suisse kept markets on edge.
on Monday. The Fed also has already created an emergency liquidity backstop for U.S. banks.
She pointed to a string of recent economic data, including a key inflation report last week, that suggest inflationary pressures are far from tamed, and expects the Fed this week to lift its median projection for the funds rate at year-end to 5.4% from 5.1% at December's meeting. The Fed has also been shown a template of sorts in recent days with the European Central Bank last Wednesday sticking with a 50-basis point rate increase,its monetary policy actions to fight high inflation from those needed to calm fears about financial stability.
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