Ready for a rate hike

The Federal Reserve’s rate setting committee ends a two-day meeting on Wednesday.

Economists expect the central bank will raise interest rates for a second time this year. When it last met in May, the Fed left its short-term rate unchanged. But it noted that inflation was edging near its 2 percent target after years of remaining undesirably low.

Fed Chair Jerome Powell said last month that moves by the Fed and other major central banks to increase rates shouldn’t disrupt the global economy.