Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on March 22, 2023.Olivier Douliery | AFP | Getty ImagesThere won’t be a lot of mystery surrounding what the Federal Reserve is going to do Wednesday with interest rates. Where the intrigue comes in is how the central bank proceeds from here.Markets have priced in a near-100% probability that the rate-setting Federal Open Market Committee will approve a quarter percentage point rise at the conclusion of the two-day meeting. That will mark the 10th increase since March 2022, taking the Fed’s benchmark borrowing rate to a target range of 5%-5.25%.For investors, the hard part will be what happens next: Does the Fed signal that it’s done hiking, or will it leave open the option of tightening even further if it judges that more needs to be done to fight inflation?”What’s …
