The Federal Reserve is set to raise interest rates by a quarter of a percentage point on Thursday, as it moves to tackle its biggest economic challenge in decades.
The Federal Open Market Committee (FOMC) is expected to begin its next round of rate hikes in late December or early January, according to a Reuters report on Thursday.
The rate hike is expected under the guidance of the central bank’s board of directors, who met on Wednesday to decide on the Fed’s path to raise rates.
The Fed raised interest rates for the first time in almost three decades last month and is expected this time to hike another quarter or two, according the Fed.
The central bank said Thursday that it has not yet determined when it will start its next hike.
The committee will decide when to begin raising rates by the end of the year, with a rate hike likely to occur sometime between February 2019 and April 2020.
The first Fed rate hike since the Great Recession ended more than two years ago is also expected to happen soon.
A central bank spokesman declined to comment on the timing of the Fed rate hikes.
But the U.S. Treasury said Thursday it was looking to sell $4.8 trillion of bonds this week, marking the first full-year increase in U.s. bond yields since 2011.