Fed raises interest rates for third time in 2018, citing job growth

(Worthy News) – The Federal Reserve raised federal interest rates another quarter-percent Wednesday, to 2 1/4 percent.

It was the third interest rate increase this year by the Federal Open Market Committee.

“Economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low,” the FOMC said in a statement. “Both overall inflation and inflation for items other than food and energy remain near 2 percent.” [ Source: UPI (Read More…) ]

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