US Fed­eral Re­serve raises key in­ter­est rate, sig­nals more hikes com­ing

Daily Mirror (Sri Lanka) - - LIFE -

(Wash­ing­ton)

AFP: The US Fed­eral Re­serve raised the bench­mark lend­ing rate on Wednesday for the sec­ond time this year, and sig­naled it will be more ag­gres­sive about rate in­creases in 2018 and 2019 amid “strong” eco­nomic growth.

And although he ac­knowl­edged con­cern among busi­nesses na­tion­wide about the un­cer­tainty cre­ated by Pres­i­dent Don­ald Trump’s abra­sive trade poli­cies, Fed Chair­man Jerome Pow­ell stressed that “the US econ­omy is in great shape.”

The unan­i­mous vote the Fed’s rate­set­ting Fed­eral Open Mar­ket Com­mit­tee brings the fed­eral funds rate to a range of 1.75-2.0 per­cent, and in­di­cated there would be two more rate in­creases this year and four next, one more than pre­vi­ously ex­pected.

Jerome Pow­ell

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