NEW YORK (CNNMoney.com) - The Federal Reserve raised a key short-term interest rate by a quarter of a percentage point Tuesday. It was the fifteenth consecutive increase since June 2004 and the first since Ben Bernanke took over as chairman of the central bank in February.
In its widely watched statement, the Fed indicated that more rate hikes may be necessary in the next few months. "Some furthe policy firming may be needed to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance," the Fed said in its statement
In its widely watched statement, the Fed indicated that more rate hikes may be necessary in the next few months. "Some furthe policy firming may be needed to keep the risks to the attainment of both sustainable economic growth and price stability roughly in balance," the Fed said in its statement
