Fed expected to raise interest rates. And, board votes to close Kennedy Center

Good morning. You're reading the Up First newsletter. Subscribe here to get it delivered to your inbox, and listen to the Up First podcast for all the news you need to start your day. Today's top stories The Federal Reserve is expected to raise interest rates today for the first time in more than three years. Investors anticipate that the central bank will raise its benchmark interest rate by a quarter percentage point to a range of 3.75% to 4%. The move would result in higher borrowing costs for consumers looking to buy cars, expand businesses or carry credit card balances. Federal Reserve Chair Kevin Warsh and his colleagues are widely expected to raise their benchmark interest rate Wedneday, in an effort to tamp down demand and bring prices under control. Win McNamee/Getty Images North America hide caption toggle caption Win McNamee/Getty Images North America 🎧 The central bank has two meetings left before the end of the year, making it possible that the Fed could raise rates more if inflation stays high, NPR's Scott Horsley tells Up First. Federal Reserve Chair Kevin Warsh will hold a news conference this afternoon to discuss today's decision in more detail, while other rate-se...