While you were sleeping: Fed hikes

Wed, 15 Mar 2017

By Margreet Dietz March 16 (BusinessDesk) - Wall Street extended gains after the US Federal Reserve raise its key interest rate, as had been widely expected, and reiterated that further increases will follow a gradual path. The central bank lifted its target overnight lending rate to a range of between 0.75 percent and 1 percent, the Federal Open Market Committee said in a statement. Voting against the action was Neel Kashkari, who preferred at this meeting to maintain the existing target range. “In view of realised and expected labo...

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