Wednesday
Federal Reserve Board raises interest rates by quarter point
The Federal Reserve Board raised interest rates by one-quarter point to 1.25 percent Wednesday, marking the first time it has hiked the overnight interest rate in four years.
The increase was largely expected, given previous comments from Federal Reserve Chairman Alan Greenspan, who has indicated that inflationary pressures were not expected to be a problem. The interest-rate hike is intended to keep inflation at bay and prevent the economy from overheating. more..
The increase was largely expected, given previous comments from Federal Reserve Chairman Alan Greenspan, who has indicated that inflationary pressures were not expected to be a problem. The interest-rate hike is intended to keep inflation at bay and prevent the economy from overheating. more..
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