Federal Reserve to announce another interest rate hike

Wall Street is bracing for another interest rate hike from the Federal Reserve and it could be the central bank's 8th interest rate hike in a row. This means borrowing costs could be going even higher this year, but with inflation starting to cool down a bit, analysts say they're predicting that this hike will be just a quarter of a point. The Federal Reserve started hiking interest rates last summer in an effort to slow down an overheated economy and bring down historically high prices, but this interest rate hike will deepen the pain for millions of Americans and businesses who fear a possible recession. But Jan Hatzius with Goldman Sachs says that's unlikely. "We don't expect the recession. Our baseline view is that we're going through a period of below-trend growth," Hatzius said.