Fed raises rates as it weighs tighter money over the next few years


(Worthy News) – The Federal Reserve announced an increase in its target interest rate Wednesday afternoon, continuing its careful efforts to withdraw its crisis-era stimulus measures, while also hinting at faster rate hikes over the next two years.

The central bank raised its target for short term interest rates by a quarter percentage point to between 1.5 percent and 1.75, the sixth such hike of the recovery.

“The economic outlook has strengthened in recent months,” members of the monetary policy committee said in a statement wrapping up their two-day meeting, the first of Chairman Jerome Powell’s tenure. [ Source: Washington Examiner (Read More…) ]

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