Party&#39;s over for low interest rates as Fed lifts benchmark to 2%
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The Federal Reserve raised the benchmark US interest rate Wednesday by a quarter of a percentage point to 2 percent, citing a stronger labor market with a gain of 337,000 US jobs last month.
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The US Federal Reserve raises interest rates to 2.25%, the fifth increase this year.
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WASHINGTON - The US Federal Reserve Board late yesterday boosted short-term interest rates for the fifth time in a row, warning of higher rates next year as it abandons easy money to head off inflation.
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The Federal Reserve boosted a key short-term interest rate by one-quarter percentage point Wednesday, the fourth increase this year.
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WASHINGTON - The Federal Reserve raised its target for short-term interest rates Wednesday, comfortable that the economy has passed late spring&#39;s &quot;soft patch.
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By Andrew Balls in Washington and Jennifer Hughes in New York. The Federal Reserve on Tuesday raised interest rates by a quarter point, to 2.25 per cent, and signalled there had been no change in its assessment of current economic conditions.
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The dollar recovered from record lows against the euro and clung near two-week highs versus the yen on Thursday after the Federal Reserve indicated it would press on with its tightening campaign.
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The Federal Reserve on Tuesday  slashed benchmark U.S. interest rates by a hefty three-quarters  of a percentage point in an emergency bid to lend support to a  weak U.S. economy faced with increasing turmoil in global  financial markets.
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Moving aggressively to stimulate a slowing economy, the Federal Reserve Board yesterday voted unanimously to slice its benchmark interest rate by half a percentage point, its first rate cut in four years, sending the Dow Jones industrial average up 335.97 points, or 2.5 percent. It was the biggest one-day point gain for the Dow in almost five years.
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US interest rates are expected to rise by a quarter percentage point to 2.25% following a US Federal Reserve meeting later on Tuesday.
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The Fed&#39;s Open Market Committee nudged federal funds interest rates up a quarter point to 2 percent. Cisco lost $1.31 to $18.44, after issuing results that met profit expectations but missed sales forecasts.
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As the whole world expected, the Federal Reserve continued its policy of normalizing short-term rates by raising its policy target to 2 percent this week.
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ITH THE US economy moving ahead and the nation&#39;s payrolls picking up, Federal Reserve policymakers boosted short-term interest rates for a third time this year - the last chance to do so before the November Preseidential election in six weeks.
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The Federal Reserve on Tuesday  slashed benchmark interest rates by a half-percentage point in  a bold bid to buffer the economy from a housing slump and  related financial market turbulence.
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Hopes that interest rates have peaked grew after minutes of this month&#39;s monetary policy committee meeting, released yesterday, showed support for the view that the housing market and consumer spending are starting to slow.
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Interest rates on US 30- and 15-year mortgages rose just slightly this week following a government report of more jobs in July and August and Federal Reserve testimony that the economy &quot;regained some traction,&quot; mortgage
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US Federal Reserve policymakers, heartened by a burst in new jobs in October, raised key short-term interest rates and hinted at further small increases ahead.