Fed Set to Raise Rates to unprecedented 22-Year High;Here’s What to Focus On.

Economic growth has likely been too strong for central bank officials to validate investors’ expectation that this will be the last hike

The Federal Reserve is central to the U.S. economy today, but its power has been built over decades. Its decisions can lower inflation or spark a recession. WSJ explains how the Fed was formed and the role it plays.

The Federal Reserve is set to raise interest rates by a quarter-percentage point on Wednesday to a 22-year high, with most investors focused on what it would take for the central bank to lift rates again later this year.