Fed pre­dicts con­tin­ued grad­ual in­creases

The Norwalk Hour - - BUSINESS -

The Fed­eral Re­serve Board un­der­scored its com­mit­ment to a grad­ual pace of in­ter­est-rate hikes in its semi­an­nual mone­tary pol­icy re­port to Congress, which also ad­dressed top­ics rang­ing from mone­tary pol­icy rules to la­bor force par­tic­i­pa­tion. The Fed­eral Open Mar­ket Com­mit­tee “ex­pects that fur­ther grad­ual in­creases in the tar­get range for the fed­eral funds rate will be con­sis­tent with a sus­tained ex­pan­sion of eco­nomic ac­tiv­ity,” the Fed said in its Mone­tary Pol­icy Re­port to Congress re­leased in Wash­ing­ton on Fri­day.

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