The Federal Reserve is meeting Wednesday with interest rates at the center of attention as policymakers weigh continued inflation pressures against the cost of borrowing for consumers and businesses. The Federal Open Market Committee is scheduled to announce its latest policy decision Wednesday, with Federal Reserve Chairman Kevin Warsh set to hold a news conference afterward. The Fed's most recent published effective federal funds rate was 3.63% on Sept. 14. Higher interest rates generally make borrowing more expensive, affecting products such as credit cards, auto loans and mortgages. Mortgage rates have also remained elevated, adding another cost for prospective homebuyers. Energy prices are an additional concern for the economy.
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