Fed Hikes Interest Rate For Third Time In 2018
- 6 years ago
According to Reuters, the Federal Reserve announced another increase to interest rates.
In a policy statement, the Fed marked the end of an era of accommodating monetary policy.
The benchmark lending rate was increased by a quarter-percent overnight due to the Fed's decision, bringing the federal funds rate to 2.25 percent.
If the Fed stays steady, another interest rate hike will take place in December, followed by four more increases over the next two years.
In a policy statement, the Fed marked the end of an era of accommodating monetary policy.
The benchmark lending rate was increased by a quarter-percent overnight due to the Fed's decision, bringing the federal funds rate to 2.25 percent.
If the Fed stays steady, another interest rate hike will take place in December, followed by four more increases over the next two years.