Local & Regional · Business & Economy · Politics & Government · North America

Federal Reserve is expected to raise its benchmark rate, defying Trump's demands

WASHINGTON (AP) — The Federal Reserve is widely expected to lift its short-term interest rate Wednesday for the first time in three years to fight stubbornly high inflation, a move that would put the central bank at odds with President Donald Trump's support for a cut. A quarter-point increase in the Fed's rate, curren