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Fed raises benchmark interest rate

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The Federal Reserve on Wednesday raised its benchmark interest rate for the third time this year.

Fed Chairman Jerome Powell said the U.S. economy is experiencing “a particularly bright moment."

“My colleagues and I are doing all we can to keep the economy strong, healthy and moving forward,” he said.

The new rate range is between 2 and 2.25 percent.

Read more from The New York Times.

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