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Fed Moves This Year To Eliminate Low Interest Rate Environment?

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The Eccles Building, which houses the U.S. Federal Reserve in Washington, D.C.

The snowstorm blowing through much of the Northeast did not deter the Fed from meeting to discuss the health of the economy and this month's probable interest rate hike Tuesday.

Most experts expect the Federal Reserve to raise rates at its Wednesday meeting, and central banks around the world are likely to do their part to reverse monetary policy from the urgent response to economic collapse that has marked the post-recession years and change to one of optimism. Central bankers around the globe are meeting this week to discuss taking action that would reaffirm a strengthening global economy, the Wall Street Journal reports, which means it’s likely the era of incredibly low interest rates is at its end.

The European Central Bank recently left current policies in place, indicating officials believe it will not need to provide stimulus to support the economy anytime soon. Central banks in the UK and Japan meet Thursday and are expected to provide optimistic signals and leave borrowing costs unchanged.