Fed meeting updates: FOMC expected to hold interest rates steady, with more hikes on the horizon

The Fed is widely expected to hold interest rates steady at its penultimate Federal Open Market Committee meeting of the year on Wednesday. Last month was its first rate hike in three years.

Inflation is elevated while unemployment is low, and the job market has been stuck in a low-hire, low-fire environment.

Check back here throughout the day for how markets are looking and what’s going on with the economy. At 2 p.m. ET, we’ll be breaking down the Fed’s decision and what Fed chair Kevin Warsh says during his 2:30 p.m. press conference.