Fed interest rate increment

Washington: US Federal Reserve raised interest rates on Wednesday further. Standard federal funds rate was increased by 25 percent. With the latest hike, the Fed's fund increased to 2.0 per cent from 1.75 per cent. Fed Chairman Jérôme H. Powell said that the economy has been substantially strengthened since the 2008 financial crisis, reaching a normal situation. In 2018, The unemployment rate has been reduced to 3.6 percent. Three times in 2019, there will be another one-hour rate increase in 2020.

US Fed officials estimate that this will increase the Fed's interest rates this year and it will double by the end of this year. The last time the Fed increased its interest rate by a quarter last March, has raised interest rates seven times since 2015. It also predicts that inflation will be above 2 percent in 2019 and 2020.

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