- Advertisement -spot_img
HomeBusinessUS Federal Reserve raises interest rates again

US Federal Reserve raises interest rates again

- Advertisement -spot_img

The US Federal Reserve has agreed to raise interest rates by 0.25%, the third rate rise in 2017.

Policymakers at the US central bank say the move, which was widely expected, underscores "solid" gains in the US economy.

Officials also boosted their economic forecasts, projecting 2.5% growth in GDP in 2017 and 2018.

The Fed said it expected to make three further increases in rates next year, unchanged from its previous forecast.

The Fed is targeting a range of 1.25% to 1.5% for its benchmark rate.

A majority of officials also said they believe interest rates are on track to exceed 2% in 2018.

The decision to raise rates came at the conclusion of the Fed's two-day meeting in Washington.

The move marks a further retreat from the ultra low rates that were put in place during the financial crisis to boost economic activity.

Federal Reserve Chair Janet Yellen, who will step down from the Fed in February, is speaking about the decision at a press conference this afternoon.

Original Article

BBC

The post US Federal Reserve raises interest rates again appeared first on News Wire Now.

- Advertisement -spot_img
- Advertisement -spot_img
Stay Connected
16,985FansLike
2,458FollowersFollow
61,453SubscribersSubscribe
Must Read
- Advertisement -spot_img
Related News
- Advertisement -spot_img