Fed Raises Key Interest Rate, Citing Strengthening Economy

Article source
New York Times

WASHINGTON — The Federal Reserve raised its benchmark interest rate Wednesday for just the second time since the financial crisis of 2008, saying the American economy is expanding at a healthy pace and setting itself up as a counterweight to President-elect Donald J. Trump’s push for considerably faster growth.

The Fed cited the steady growth of employment and other economic measures, and signaled that it expects to raise rates more quickly next year to prevent the economy from growing too quickly.

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