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Another Big Rate Hike Is Coming. Why the Stock Market Rallied.

The Federal Reserve is likely to raise interest rates by three-quarters of a point at is November meeting, according to The Wall Street Journal’s Nick Timiraos. The only surprise would be if it didn’t raise rates by that much.

Timiraos is known on Wall Street as the Fed Whisperer, the reporter that the central bank reaches out to when it wants to get a message across. His latest article, released Friday morning, says the Fed will raise rates by three-quarters of a point at the end of its meeting on Nov. 2, something that wouldn’t be at all shocking.