The U.S. Federal Reserve is expected to raise interest rates again before the end of the year as the Federal Open Market Committee (FOMC) meets for the last time this year on Dec. 13-14.
FOMC is expected to recommend a half percentage point hike in rates during the meeting.
The move will end an aggressive series of rate hikes in 2022 where the Fed raised rates seven times, totaling 4.25 percentage points in just nine months, Bankrate reported.
It has been the busiest year for rate hikes since President Jimmy Carter was in office, when the Fed worked to fight inflation in the 1980s.
In anticipation of the next increase, investors found themselves putting a pause on trading, waiting for the committee to meet and release their final word on the next action.