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Fed lifts interest rates and aims for another pair of increases later this year

Fed lifts interest rates and aims for another pair of increases later this year

Dot plot shows one Fed VIP switched to more aggressive stanceReutersFederal Reserve Chairman Jerome Powell will hold a press conference at 2:30 p.m. The Federal Reserve on Wednesday raised a key U.S. interest rate and signaled a somewhat more aggressive stance in 2018, underscoring the central bank’s confidence in a steadily growing economy but acknowledging the recent rise in inflation. The move did not reflect a major departure, however, in the Fed’s strategy of gradually raising interest rates to keep the economy on an even keel.