Economists expect Fed rate hike Sept. 16, with more to follow

Economists expect the Federal Reserve to raise interest rates on Wednesday, Sept. 16, with at least one further increase to follow, Reuters reported Sept. 14. The call centers on the Sept. 15-16 FOMC meeting, with a press conference scheduled for 2:30 p.m. Sept. 16. Higher rates typically mean higher borrowing costs and higher savings yields.