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Fed raises rates amid stronger inflation, drops crisis-era guidance

Reuters  |  WASHINGTON, June 13 

By Howard Schneider and Jason LangeWASHINGTON, June 13 (Reuters) - The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the U.S. 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 percent and 2 percent, the Fed dropped its pledge to keep rates low enough to stimulate the economy "for some time" and signaled it would tolerate above-target inflation at least through 2020. The Fed ...

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First Published: Wed, June 13 2018. 23:34 IST