The Fed: Fed likely to follow ECB’s playbook and hike interest rates next week

The European Central Bank raised its benchmark interest rate by 50 basis points on Thursday. Will the U.S. Federal Reserve follow suit?

The answer is yes, albeit a smaller-sized move, economists said Thursday.

The ECB rate hike is a “model” that the Fed can use, said Vincent Reinhart, chief economist at Dreyfus and Mellon.

“The…