most investors expect federal reserve officials to lift the benchmark federalfunds rate by 075 percentage point at the central bank’s november meeting traders are betting higher interest rates will linger for the foreseeable future ahead of the federal reserve’s next decision on wednesday derivatives markets show the federalfunds rate sitting at around 35 for the long run that is a full percentage point higher than the central bank’s own latest forecast those wagers have crept higher throughout most of the year and are now nearing levels not seen since the 2013 bondmarket rout known as the “taper tantrum”