FED increased interest rates
For the third time this year and the fifth time since the financial crisis, the Federal Reserve has increased interest rates another quarter of a point, APA reports.
Fed policymakers announced an increase in the benchmark federal funds rate to a range of 1.25 percent to 1.5 percent, the third increase in the key rate this year. The move — which will mean higher rates on consumer loans, credit cards and other loans — indicates the central bank is confident in the strength of the economy and ready to push rates to more normal levels.
Economic growth has been running at a robust annual rate of just above 3 percent during the spring and summer.
News.Az
Similar news
