Economics
Fed Raises Rates and Says More Coming, Brushing Off Trump Jabs
- Central bankers raised main rate to range of 2% to 2.25%
- Forecasts show 12 of 16 officials favor four hikes in 2018
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Federal Reserve officials raised interest rates and cemented expectations for another hike this year as they reaffirmed that a strong U.S. economy will probably warrant further gradual increases well into 2019.
The quarter-point hike boosted the benchmark federal funds rate to a target range of 2 percent to 2.25 percent. The move reflected an upbeat assessment of the economy that was identical to the central bank’s last policy statement eight weeks ago, despite concerns over President Donald Trump’s escalating trade war.