While you were sleeping: Fed sees three hikes in 2018

Wed, 13 Dec 2017

By Margreet Dietz Dec. 14 (BusinessDesk) - Wall Street rose as the Federal Reserve raised its key interest rate for the third time this year, and held to its forecast for three rate hikes next year. The Federal Open Market Committee decided to raise the target range for the federal funds rate to 1-1/4 to 1‑1/2 percent “in view of realised and expected labour market conditions and inflation,” it said in a statement. Charles Evans and Neel Kashkari voted against the hike as they preferred at this meeting to maintain the existing target...

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