You are here: Home » International » News » Markets
Business Standard

Fed hikes rates amid stronger inflation, shifts from crisis-era stance

Policymakers projected a slightly faster pace of rate increases in the coming months

Reuters  |  Washington 

The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the US central bank's shift from policies used to battle the 2007-2009 financial crisis and recession. In raising its benchmark overnight lending rate a quarter of a percentage point to a range of between 1.75 per cent and 2 percent, the Fed dropped its pledge to keep rates low enough to stimulate the economy "for some time" and signalled it would tolerate above-target inflation at least through 2020. The Fed has raised rates seven times since late ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, June 14 2018. 01:32 IST
RECOMMENDED FOR YOU