Fed hikes rates, signals more to come
As expected, the Federal Open Market Committee boosted its target for short-term interest rates Thursday by a quarter percentage point to 3.25% and signaled further rate hikes are coming. The Federal Reserve's policymaking committee left its post-meeting statement largely unchanged from May's statement... The committee said current rates remain "accommodative" and said once again that it believes rates can be raised at a "measured pace."
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