Tuesday
Fed raises rates a quarter-point again
Central bank policy-makers add another quarter-point to fed funds rate, see economic pickup ahead.
The Federal Reserve raised its target for a key short-term interest rate a quarter-percentage point Tuesday in a continuing effort to raise lending rates from the lowest levels in more than 40 years. The Fed also gave financial markets reason to believe it was more likely to raise rates again in September. While acknowledging recent signs of a slowdown in economic growth and the labor market, the central bank repeated the view, stated in recent weeks by its chairman, Alan Greenspan, that the slowdown was temporary. At the end of a one-day policy meeting, the Fed's policymakers unanimously agreed to raise their target for the fed funds rate, an overnight lending rate that influences other rates throughout the economy, to 1.5 percent from 1.25 percent. more..
The Federal Reserve raised its target for a key short-term interest rate a quarter-percentage point Tuesday in a continuing effort to raise lending rates from the lowest levels in more than 40 years. The Fed also gave financial markets reason to believe it was more likely to raise rates again in September. While acknowledging recent signs of a slowdown in economic growth and the labor market, the central bank repeated the view, stated in recent weeks by its chairman, Alan Greenspan, that the slowdown was temporary. At the end of a one-day policy meeting, the Fed's policymakers unanimously agreed to raise their target for the fed funds rate, an overnight lending rate that influences other rates throughout the economy, to 1.5 percent from 1.25 percent. more..
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