The Federal Reserve is widely expected to lift its short-term interest rate for the first time in three years to fight stubbornly high inflation.

The Federal Reserve has for decades moved steadily from a remote, opaque government agency that shared little about what it did or why to a more transparent institution willing to explain how it makes decisions and what it thinks about the economy.

President Donald Trump says his tariff announcements slated for Wednesday will amount to a “Liberation Day” for the United States.