The US central bank has said it will raise its benchmark interest rate citing a strengthened economic outlook.
The Federal Reserve said it had decided to raise the rate by 0.25 per cent to a target range of 1.5 per cent to 1.75 per cent.
The central bank also hinted at future rate increases in its projections for coming years.
The Fed is trying to balance low unemployment with the potential for higher inflation spurred in part by federal spending and tax cuts.
In a statement released Wednesday, the Fed said its economic outlook had strengthened, but it also noted that household spending and business investment appear to have "moderated" from the end of 2017.
comments powered by Disqus
All feeds
