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    US Federal Reserve Raises Interest Rate to 1-1.25% Range

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    The US interest rate will increase by 25 basis points to a range of 1 percent to 1.25 percent.

    WASHINGTON (Sputnik) The United States’ benchmark interest rate will increase by 25 basis points to a range of 1 percent to 1.25 percent, now that the nation’s labor market and inflation have reached expected levels, the US Federal Reserve’s policy-setting Federal Open Market Committee (FOMC) said in a statement on Wednesday.

    "In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1 to 1-1/4 percent," the statement said.

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    interest rate, US Federal Open Market Committee (FOMC), United States
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