Following the collapse of First Republic Bank earlier this week, the Federal Reserve is expected to deliver its 10th - and final - rate hike for a while today, bringing the rate to a range of 5% to 5.25%, the highest since 2007.
Federal Reserve officials delivered their fourth straight 75 basis-point interest-rate increase while citing that "ongoing increases" will likely be needed to bring rates to a level that is "sufficiently restrictive to return inflation to 2% over time."