>> Janet Yellen and the rest of the Federal Reserve board will meet this week and they look ready to deliver on a promise two years in the making. The Fed leaving little doubt that it plans to raise rates since none of the economic or financial dark clouds that caused it to abandon previous pledges are anywhere to be found.
Reuters New York Fed watcher, Jonathan Spicer, calls this the most telegraphed rate hike ever.>> We had, basically, a Fed blitz two weeks ago, where all of the core decision makers, all the big names, Yellen, Fisher, Dudley, down the list, stepped up and said, look, we mean it this time.
Credibility issues aside, two years of false starts aside, we're actually going to go this week and raise interest rates for the third time in this cycle.>> The Fed ready to move further away from the historically ultra-low rates in place since the financial crisis. Supporters of the zero rate policy say it helped coax the economy out its worst slump since the Great Depression.
But much has changed since those dark days.>> We've had inflation reports that have kept edging higher. We've had importantly consumer manufacturing strength across the board. And then the labor market we had another very strong jobs report for the month of February. So it's, I mean, it's kind of all systems go.
We don't quite know what Donald Trump is going to bring in terms of fiscal policies and republican congress. We have a window, where there's stability Feds are gonna take advantage.>> The market clearly believing the Fed this time, traders pricing in a 92% chance of a March rate hike, and economists are in lock step with the Fed and predicting two more before this year is out.
Yellen is expected to lift the Fed's lending rate by quarter percentage point, following the two day meeting which concludes with a Wednesday press conference.