Fed raises key rate and foresees 2 more hikes this year
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March 22, 2018
WASHINGTON (AP) — The Federal Reserve raised its key interest rate Wednesday in a vote of confidence in the U.S. economy's durability while signaling that it plans to continue a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell.
The Fed said it expects to raise rates twice more this year. And it increased its estimate for rate hikes in 2019 from two to three, reflecting more optimistic expectations for growth and low unemployment.
In a statement after its latest policy meeting, the Fed said it boosted its key short-term rate by a modest quarter-point to a still-low...
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