* Federal Reserve expected to raise interest rates today to 22-year high
* Fed still at risk of doing too little to tame inflation, says SF Fed president
* IMF lifts global growth forecast despite slower momentum in China
* China announces new central bank governor at critical juncture for economy
* US faces “significant” shortage of tech workers in semiconductor industry
* US house prices rise for four months through May but dip vs. year-ago level
* US Consumer Confidence Index rebounds to two-year high in July:

Broad US money supply (M2) continues to contract on a year-over-year basis in June, according to data published on Tuesday by the Federal Reserve. The depth of the decline eased for a second month, falling 3.6% vs. a 3.7% decrease in May, based on unadjusted numbers. The softer slide suggests the Fed’s tight monetary policy is easing at the margins.