The Federal Reserve on Wednesday voted to raise its benchmark federal-funds rate by a quarter-percentage point to a range of 1.75% and 2% and said it expected to raise rates four times this year, up from a forecast of three in March.
The move did not reflect a major shift in the Fed’s thinking. The “dot-plot” shows only one official switched to a slightly higher interest-rate path.
And the difference between three and four moves this year remains extremely narrow. Eight Fed officials said they expected interest rates to rise at least four times while seven forecast three rate hikes.
Source : Market Watch