The Fed is expected to raise interest rates by 75 points and could slow the pace

– The Federal Reserve is expected to raise interest rates by 75 basis points Wednesday but also signal it could begin to slow down the size of its rate hikes in December.

– Markets are also braced for the Fed to end rate hikes in March at a level of 5%, and market pros say a more hawkish Fed could trigger a violent reaction.

– Fed Chair Jerome Powell is expected to sound somewhat hawkish in his briefing Wednesday and emphasize that the Fed’s goal is to crush inflation.