In the News

Title

Fed Raises Interest Rates for Second Time in 2017

Document Type

Article

Publication Date

6-14-2017

Abstract

The Federal Reserve on Wednesday raised the federal funds rate another quarter-point, lifting the target to 1% to 1.25% in the second of three expected hikes in 2017.

Citing recent inflation declines, greater household spending, and a steady job market, the Fed voted nearly unanimously to increase the interest rate; as in March, when rates rose from 0.75% to 1.0%, Minneapolis Fed president Neel Kashkari was the lone holdout.