The Federal Reserve on Wednesday raised interest rates for the third time this year and signaled it was prepared to increase again in December, as it also altered language that could mean a slowing in the pace of future increases.
After the end of a two-day meeting, the Fed said in a statement that it has increased its target for its benchmark lending rates to a range between 2% to 2.25%.
Rates are now at their highest level since shortly after the bankruptcy of Lehman Brothers in the fall of 2008. The decision was unanimous.
At the same time officials removed key language that policy was “accommodative.” This was seen as giving them more flexibility on the pace of rate hikes next year.
Source : Market Watch