Federal Reserve hikes rates, drops crisis-era guidance

The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the US.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 percentage point to a range of 1.75% to 2%, the Fed dropped its pledge to keep rates low enough to stimulate the economy "for some time" and signalled it would tolerate inflation above its 2% target at least through 2020. "The economy is doing very well,"...

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By: DNA India - 7 days ago

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