ST. LOUIS, Mo - The Federal Reserve is expected to increase the interest rate by 0.25% later this week, according to CBS Business Analyst Jill Schlesinger.
Schlesinger, who joins Total Information AM every Monday morning, says that the Federal Reserve is expected to make an announcement regarding the interest rate during right after its meeting that begins on Tuesday, July 25 and concludes the following day.
The Federal Reserve is expected to make the announcement on Wednesday, July 26 at 1 p.m. local time.
Schlesinger says the increase was expected by many.
"Don't just take my word for it," Schlesinger said on Total Information A.M. "(The Federal Reserve) has telegraphed this decision. They have said 'We're probably going to raise rates.'"
During the appearance on Total Information A.M, Schlesinger also discussed Powerball, and the release of the first estimate of second quarter growth, which will be released on Thursday, July 27th.