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Federal Reserve Raises Benchmark Interest Rates
By Mr. Crowd 22 Mar 201813:37
On Wednesday, in the first meeting under Chairman Jerome Powell, the Federal Reserve raised interest rates for the sixth time since the financial crisis in 2008. The Fed decided to raise the target range for the federal funds rate from 1.5 to 1.75 percent, in view of realized and expected labor market conditions and inflation.
According to the Federal Open Market Committee (FOMC) Statement issued on Wednesday, the labor market has continued to strengthen while economic activity has been rising at a moderate rate. Job gains have been strong in recent months, and unemployment rate has stayed low. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.
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