This week's Federal Reserve meeting is shaping up to be the most dramatic in recent memory, with economists divided on whether the central bank will raise its benchmark interest rate for the first time in nearly a decade.
A hike would mark the beginning of the end of an extraordinary era of Fed easy money since the 2008 financial crisis that has kept borrowing costs historically low for consumers and businesses, and underpinned the six-year bull market. The Fed meets Wednesday and Thursday.
Of 19 economists and investment strategists surveyed by Action Economics on Friday, 11, or 58%, predict the Fed will delay the move after recent turmoil in financial markets — a share that has risen steadily over the past two weeks.
"You could add more volatility and more hesitation and fright to markets that are already fearful," says Diane Swonk, chief economist of Mesirow Financial .
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