Federal Reserve Moves Closer to "Neutral" Interest Rates

Fed makes third interest rate hike this year but Morningstar analysts detected a change in tone in the central bank's statement

Alliance News 27 September, 2018 | 8:08AM Eric Compton

Federal Reserve raises interest rates

The US Federal Reserve raised its benchmark interest rate band by 25 basis points, in line with market expectations, as the central bank continued its tightening cycle.

"In view of realized and expected labour market conditions and inflation, the committee decided to raise the target range for the federal funds rate to 2.00% to 2.25%," the Federal Open Market Committee said in a statement on Wednesday.

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