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Fed Raises Interest Rates
As expected, the Federal Reserve raised its U.S. benchmark interest rate by one-quarter point to a range of 2.25%-2.5%, citing a still-strong economy.
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As expected, the Federal Reserve raised its U.S. benchmark interest rate by one-quarter point to a range of 2.25%-2.5%, citing a still-strong economy.
It was the fourth such increase this year. But the central bank signals that it may not conduct more than two more adjustments in 2019, noting increasingly volatile financial markets and signs of slowing economic growth elsewhere.
The Fed anticipates a “robust economic backdrop” in the U.S. next year, with unemployment declining to 4.4% and inflation just under 2%. The bank predicts the U.S. economy will expand by about 3% this year and 2.3%-2.5% in 2019.
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