Interest Rate Hike Expected

This would be only the second time in a decade this has happened– but the Federal Reserve is expected to hike interest rates by a quarter point by the end of the day.

David Sowerby, Vice President and Portfolio Manager for Loomis Sayles and Company in Bloomfield Hills, says that’s due to an expected rise in inflation.

In fact, Sowerby expects two to three more rate hikes over the next year.