The Federal Reverse raised the benchmark federal funds rate to a
four-year high of 3.5 percent. The panel stated that they have no plans
to stop raising rates in the near future, as rates are still low enough
to lend support to the economy. They plan to remove stimulus at a
controlled pace, suggesting further quarter-point moves ahead. The Fed
has been raising rates since June 2004, in an effort to head off
inflation risks in a growing economy. The Fed has raised the rate from
an historic low of 1 percent to the current 3.5 percent.
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