America’s central bank is expected to raise rates by a quarter point on Wednesday. The question now is what comes next.

The Personal Consumption Expenditures price index climbed 5 percent from a year earlier, slower than the reading last month.

After six months of declines, inflation seems to be turning a corner. But the road back to normal is an uncertain one.

John C. Williams, the president of the Federal Reserve Bank of New York, said central bankers must “keep moving” in their inflation fight.

The city that was once the world’s gateway to America is betting it can win in a new and different era of global integration.

Lael Brainard, the vice chair of the Federal Reserve, emphasized that non-wage causes have driven inflation in a sweeping speech.

A default would most likely rattle markets and carry big risks, no matter how the Federal Reserve and Treasury try to curb the fallout.

Consumer Price Index inflation moderated to 6.5 percent in December, helping Fed officials to lean toward slower rate moves.

The Consumer Price Index slowed, climbing 6.5 percent in December, helping Fed officials to lean toward slower rate moves.

Susan M. Collins, president of the Federal Reserve Bank of Boston, said she was leaning toward a quarter-point move at the central bank’s Feb. 1…