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Thursday, 20 December 2018 11:00

Fed raises interest rates

Fed raises interest rates

After weeks of market volatility and calls by President Donald Trump for the Federal Reserve to stop raising interest rates, the U.S. central bank instead did it again, and stuck by a plan to keep withdrawing support from an economy it views as strong, Reuters said.

According to the press statement of Fed, consistent with its statutory mandate, the Federal Open Market Committee seeks to foster maximum employment and price stability, Caspian Energy News (www.caspianenergy.net) reports with reference to Fed.

The Committee judges that some further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective over the medium term. The Committee judges that risks to the economic outlook are roughly balanced, but will continue to monitor global economic and financial developments and assess their implications for the economic outlook.

In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 2.25 percent to 2.50 percent.

More details:

https://www.federalreserve.gov/newsevents/pressreleases/monetary20181219a.htm

https://www.reuters.com/article/us-usa-fed/fed-raises-interest-rates-sees-some-further-hikes-ahead-idUSKBN1OI0DV

Person in charge of the newsline: Olga Nagiyeva 

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