The Federal Reserve is expected to hike interest rates for the first time since 2023, a decision driven by stubbornly high inflation and a global rise in borrowing costs. Follow our live updates ⬇️ ↧ Live: Fed rate hike expected as inflation worries push up bond yields The Federal Reserve is expected to hike interest rates for the first time since 2023, a decision driven by stubbornly high inflation and a global rise in borrowing costs that will heighten scrutiny of how U.S. central bank chief Kevin Warsh describes the first monetary policy change on ​his watch.