The U.S. central bank's monetary-policy committee raised benchmark borrowing costs by a quarter percentage point to a range of 1.5% to 1.75%, in Jerome Powell's first meeting as Fed chairman.
Traders fully expect the Fed's monetary-policy committee to raise benchmark borrowing costs by a quarter percentage point at a meeting that starts Tuesday and culminates Wednesday with Powell's first press conference as chairman. The question is what comes next.
A key risk measure in money markets known as the Libor-OIS spread has risen to levels not seen since worries mounted in 2011 and 2012 over the debt troubles of European countries Portugal, Italy, Greece and Spain.
A report Friday from the U.S. Labor Department shows inflation rose to 2.2% in February from a year earlier, accelerating from January's pace of 2%.
A report Friday from the U.S. Labor Department shows the economy added 313,000 jobs in February, well above estimates, while wage growth moderated to 2.6%.
A report Friday from the U.S. Labor Department is expected to show that wages climbed 2.8% in February from a year earlier, with unemployment falling further to 4%, based on economist surveys by the data provider FactSet.
Federal Reserve Governor Lael Brainard said in a speech that further gradual rate increases are "appropriate," especially in light of the economic stimulus expected to come from President Donald Trump's tax cuts.
Federal Reserve Chair Jerome Powell, sworn in earlier this month, testified Thursday before the U.S. Senate Banking Committee.
The index climbed to 130.8 from 125.4 in January, the Conference Board, a Washington-based research association, said Tuesday in a statement. Economists had expected a reading of 127 on average, according to data provider FactSet. The index, based on a survey of consumers' assessment of business and employment conditions, was at its highest since 2000.
Federal Reserve Chair Jerome Powell, sworn in earlier this month, testified Tuesday before the U.S. House of Representatives' Financial Services Committee.
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