US Fed raises interest rates for second time this year
US Fed raises interest rates for second time this year
Published:
WASHINGTON, June 13, 2018 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington D.C., the United States, on June 13, 2018. The U.S. Federal Reserve on Wednesday raised short-term interest rates by a quarter of a percentage point, its second rate hike this year. (Xinhua/Yang Chenglin/IANS)
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Washington, June 14 (IANS) The US Federal Reserve has raised short-term interest rates by a quarter of a percentage point, its second rate hike this year.
"In view of realised and expected labour market conditions and inflation, the (Federal Open Market) Committee decided to raise the target range for the federal funds rate to 1-3/4 to 2 per cent," Xinhua reported the central bank as saying in a statement on Wednesday after concluding a two-day meeting.
--IANS
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