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 user 2013-06-23 at 4:36:55 am Views: 65
  • #2144
    As Expected, Fed Raised Interest Rates

    The U.S. Federal Reserve raised interest rates for the third time this year by a Quarter of a percentage point and said the economy was regaining some momentum after a slow period.

    The widely expected and unanimous decision by the policy-setting Federal Open Market Committee moves the benchmark federal funds rate to 1.75 percent. "After moderating earlier this year partly in response to the substantial rise in energy prices, output growth appears to have regained some traction, and labor market conditions have improved modestly," the Fed said in a statement.


    * Post was edited: 2004-09-23 10:43:00