Federal Reserve's Kevin Warsh to announce rate decision 11:30pm IST
Business
Big money news tonight: The US Federal Reserve, led by chairman Kevin Warsh, is set to announce whether it will hike interest rates at 11:30pm. IST.
This comes after a fresh inflation report showed prices rising faster than the Fed would like, flipping last week's predictions; now economists expect a rate increase.
Fed rate possibly 3.75% to 4.00%
If the hike happens, the key rate could jump to 3.75% to 4.00%. But this might just be the start; KPMG's Diane Swonk says more hikes could follow.
There is also some political drama, with President Donald Trump reportedly expressing support for lower interest rates.
Tonight's press conference will stream live on the US Federal Reserve's website and the Federal Reserve's official YouTube channel if you want to catch it in real time.