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The Federal Reserve is expected to signal its first interest rate hike in three years during a pivotal two-day meeting this week, opening the door to a March liftoff as policymakers seek to combat the hottest inflation in four decades.
U.S. equity futures were trading higher ahead of the conclusion of the Federal Reserve's policy meeting.
Warning that high inflation could make it harder to restore the job market to full health, Federal Reserve Chair Jerome Powell said Tuesday that the Fed will raise interest rates faster than it now plans if needed to stem surging prices.
Energy Secretary Jennifer Granholm on Tuesday admitted that she did not know how many barrels of oil the U.S. consumes per day ahead of the release of 50 million barrels of oil from the U.S. Strategic Petroleum Reserve
'Kudlow' host urges President Biden to produce oil in America.