Fed Raises Short-Term Interest Rate
As expected, Federal Reserve policymakers raise a key short-term interest rate by one quarter of a percentage point. The Fed Funds rate stands now at 1.5 percent.
In a statement, the Fed said that while growth and job creation have slowed, "the economy nevertheless appears poised to resume a stronger pace of expansion going forward."
Fed policymakers reiterated their belief that with inflation still relatively low, interest rates can be raised "at a pace that is likely to be measured." NPR's Jim Zarroli reports.
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