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Fed Squeezes Monetary Policy With Interest Rate Hike

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Mortgages and credit card payments are just about to become more pricey. According to Reuters, the U.S. Federal Reserve raised interest rates Wednesday by a quarter point. Predicting the US economy had three more years of growth ahead, it continued to tighten monetary policy. Fed policymakers lifted the benchmark overnight lending rate to a range of 2% to 2.25%. The U.S. central bank still foresees another rate hike in December, three more next year, and one increase in 2020.

Added on the 26/09/2018 19:36:21 - Copyright : Wochit

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