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The expectation was based on  Chair Janet Yellen’s oft-repeated stance that she’d like to see rate rises before the end of 2015.

The last time the United States Federal Reserve raised their interest rates was back in 2006, a decade ago. With shares and commodity prices tumbling down this year at an unprecedented rate, global markets are in a bad mood swing: Will the United States Federal Reserve finally hike interest rate? Their key concern – the triggering of bear stock market and the slowdown in global economy growth – not to mention the rising increase rates will increase the value of The US dollars and makes more dollar-denominated currencies more expensive to users of other currencies.

The Fed is expected to raise the fed funds target rate on Wednesday and release economic and interest rate forecasts with its 2 p.m. ET statement.

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