Federal Reserve Raises Interest Rates Slightly amid “Strong” Jobs Market

(From The Guardian)

The Federal Reserve raised interest rates again on Wednesday, arguing that the US jobs market was “strong” and signalled it may accelerate the pace of increases next year.

The quarter percentage point rise to a range of 1.5% to 1.75% was the sixth such increase since 2015 and comes as the Fed appears to be moving, slightly, more quickly to end an era of historically low interest rates that began during the last recession.

The announcement came as the Fed chair, Jerome “Jay” Powell, gave his first press conference in the role he took over from his predecessor Janet Yellen in February. His surprise-free performance left US financial markets barely changed.

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