The Federal Reserve announced a widely expected quarter-point increase in its benchmark interest rate on Wednesday, and signaled that it plans to continue raising rates next year. The Fed emphasized the strength of economic growth in a statement released after a two-day meeting of its policymaking committee. The Fed’s announcement offered a few crumbs for critics, including President Trump, who have urged the central bank to stop raising rates. A majority of Fed officials on Wednesday predicted the central bank would raise rates no more than twice next year. In September, most Fed officials had predicted at least three rate increases.

Source: New York Times December 19, 2018 19:02 UTC