Fed raises key interest rate

Posted online December 15, 2016 | 11:52 am

The Federal Reserve yesterday raised its benchmark interest rate for the second time since 2008.

The Fed cited steady employment growth and other economic measures for the increase to a range of 0.5 percent to 0.75 percent.

Officials also signaled plans to rise rates more quickly next year to prevent the economy from growing too quickly.

Read more from The New York Times.

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