The Federal Reserve’s Federal Open Market Committee will meet next week to decide whether to increase the federal funds rate to its record high of 0.25% in January.
The panel will decide whether it is appropriate to continue to tighten monetary policy in a bid to spur a return to economic growth.
The Fed raised interest rates in December after the first of two straight quarters of contraction and inflation pressures.
The decision sparked a flurry of speculation that the Fed was about to tighten.
However, Fed Chair Janet Yellen and Fed policymakers said they believed the economic conditions were conducive for further rate hikes in the future.
A decision on the Fed’s next move is expected by the end of the week, though the pace of rate hikes could vary depending on the outcome of the conference.