Interest rates tick up again
Federal Reserve officials raised interest rates for the second time this year and upgraded their forecast to four total increases in 2018 as unemployment falls and inflation overshoots their target faster than projected. The short-term federal fund rate — what banks charge each other — increased by 0.25 points to a range of 1.75 to 2 percent. It is the second rate increase of this year. Fed officials anticipate one or two additional hikes before 2019.