Fed Chair Powell to Speak at 2:30 pm, Markets Await Interest Rate Decision

Central Bank Policy Moves Global Financial Landscape

Japanese Rate Hike Stuns Markets, Highest in 15 Years

The Bank of Japan's unexpected rate hike on Tuesday sent shockwaves through global markets. The hike, the largest since 2007, dashed expectations for no change and highlighted the growing pressure on central banks to combat inflation.

Fed's Interest Rate Dilemma

Federal Reserve Chair Jerome Powell will face that pressure when he holds his regular press conference later today. Markets are eagerly awaiting the Fed's interest rate decision, which could have significant implications for the global economy.

Soaring Credit Card Interest Rates

Meanwhile, consumers are facing the consequences of rising interest rates. The average interest rate on new credit cards has now reached 24.84%, the highest since LendingTree began tracking in 1998.

Stock Market on Edge

Stock markets have climbed cautiously this morning, as investors look ahead to the Fed's decision. A rate hike could lead to further market volatility, while a pause could provide some stability.

Powell's Tough Balancing Act

Powell faces a difficult balancing act as he attempts to tame inflation without damaging economic growth. The Fed's decision will be closely scrutinized by both markets and policymakers around the world.