WASHINGTON – The Federal Reserve raised its key interest rate Wednesday for the fourth time this year to reflect the US economy’s continued strength, but signaled that it expects to slow its rate hikes next year. Wednesday’s quarter-point increase, to a range of 2.25 percent to 2.5 percent, lifted the Fed’s benchmark rate to its highest point since 2008. The Fed’s move came despite President Donald Trump’s attacks in recent weeks on its rate hikes and on Powell personally. At a news conference after the Fed’s announcement, Powell said Trump’s tweets and statements would have no bearing on the central bank’s policymaking. The fear is that optimism could translate into more rate hikes in the future.

Source: Philippine Star December 20, 2018 16:07 UTC