The Federal Reserve is expected to raise interest rates by a smaller half percentage point later today yet signal that their battle with inflation is still far from over.  The central bank is also slated to release new forecasts for interest rates and the economy when they wind down their two-day meeting this afternoon. Fed officials have indicated they would reduce the size of rate hikes, after four straight three-quarter percentage point hikes in a row.

United Airlines announced they will buy 100 Boeing 787 Dreamliner jets to replace their aging widebody fleet, seeking to improve costs and drive global growth.  Boeing’s stock gained, while United’s stock plunged.   United is also buying 100 Boeing 737 Max narrowbody jets.  The new Dreamliner jets will fly United's longest routes and replace older, less-efficient aircraft.  The huge order from United is a big win for the aviation giant, and it’s the largest 787 Dreamliner order in Boeing history.

A federal indictment was unsealed alleging widespread fraud by FTX co-founder Sam Bankman-Fried, a day after the fallen crypto exchange operator was arrested in the Bahamas in connection with the charges.  The indictment in U.S. District Court in Manhattan charges Bankman-Fried with eight criminal counts: conspiracy to commit wire fraud and securities fraud, individual charges of securities fraud and wire fraud, money laundering, and conspiracy to avoid campaign finance regulations.