Federal Reserve raises interest rates
The Federal Reserve raised interest rates by 25 basis points in a widely expected move. The new target range for the federal funds rate is now between 2.25% and 2.5%. This is the fourth rate hike of the year and marks the highest level since April 2008.
Economic data has shown strong job growth and low unemployment, prompting the Federal Reserve to continue its tightening cycle. However, concerns about slowing global growth and trade tensions have led to speculations about the pace of future rate hikes.
The Federal Reserve stated that it will continue to monitor economic data to determine the future path of monetary policy.
