U.S. Fed raises interest rate

by VTV422 March 2018 Last updated at 15:03 PM

(Photo: Reuters)
(Photo: Reuters)

VTV.vn - The U.S. Federal Reserve on Wednesday raised the benchmark interest rate by 25 basis points and signaled two more rate hikes in 2018, citing a "strengthened" economic outlook in recent months.

In view of realized and expected labor market conditions and inflation, the Fed decided to raise the target range for the federal funds rate from 1.5 to 1.75%, the central bank said in a statement after concluding a two-day meeting.

The U.S. economy will grow at 2.7% in 2018 and 2.4% in 2019, higher than previous projections of 2.5% and 2.1% respectively.

Wednesday's announcement marked the Fed's sixth rate hike since late 2015 and the first move under Jerome Powell, who took the helm of the central bank in February.

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