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Montevideo, November 18th 2018 - 00:34 UTC

Tag: Federal Open Market Committee

  • Thursday, June 14th 2018 - 08:13 UTC

    Fed raises basic rate to 2%; anticipates further increases amid strong economic growth

    Fed Chairman Powell announced that he will hold a press conference after every policy meeting, to give the Fed “more opportunities to explain our actions”

    The US Federal Reserve raised the benchmark lending rate on Wednesday, the second increase of the year, and signaled it will be more aggressive about rate increases this year and next amid “strong” economic growth. The unanimous vote brings the federal funds rate to a range of 1.75 to 2%, but the quarterly economic forecasts show central bankers now expect the rate to end the year at 2.4% rather than the 2.1% projected in March.