US Federal Reserve Might Raise Interest Rates By This Much, Here Are The Major Macro Issues For Wednesday

U.S. stocks closed lower on Tuesday with the Nasdaq Composite dropping more than 100 points amid a rise in Meta Platforms, Inc. META and Amazon.com, Inc. AMZN shares.

Let’s have a look at the major economic events scheduled for today.

• The MBA's index of mortgage application activity for the latest week is scheduled for release at 7:00 a.m. ET.
• Data on existing home sales for August will be released at 10:00 a.m. ET. US existing home sales, which have been declining every month since February, are likely to come in at an annualized rate of 4.70 for August compared to 4.81 million in the previous month.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.
• The Federal Reserve will announce its policy decision at 2:00 p.m. ET. The country’s central bank is widely expected to raise interest rates by 75 bps at the meeting.
• Fed Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.

Market Volatility Increases Sharply Ahead Of Fed's Rate Decision

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