Federal reserve policy makers begin a two-day meeting later today. Fox's carole zimmer has the latest on what action the fed may take on interest rates.

Most analysts are expecting an interest rate hike of a quarter percentage point after last week's strong jobs report. There's also been a surge in consumer and business sentiment, which comes from President Trump's plan to cut taxes and regulations and boost federal spending.

In December, the Fed lifted the short term rate for just the second time in the past decade. The Fed raises rates to head off excessive inflation as the economy heats up. The Fed has signaled there are likely to be three interest rate hikes this year.

Carole Zimmer, FOX News.

Follow Carole Zimmer on Twitter: @Carole_Zimmer