Advertisement Continue reading the main storyThe statement was backed by a unanimous vote of the Fed’s policy-making committee, the Federal Open Market Committee. Advertisement Continue reading the main storyThe Fed raised its benchmark interest rate in December and again in March. Advertisement Continue reading the main storyAccordingly, the Fed wants to raise interest rates by the end of the year to a level that does not encourage or discourage growth. Growth over the last 12 months has remained around 2 percent, the mediocre but steady pace the economy has maintained in recent years. The ReactionThe Fed’s statement made little impression on financial markets.

Source: New York Times May 03, 2017 18:09 UTC