Janet yellen ujpyjw

Federal Reserve System Board of Governors chair Janet Yellen

The Federal Reserve on Wednesday voted to raise interest rates slightly, from a range between .5 and .75 percent to a range between .75 and 1 percent. "The labor market has continued to strengthen and ... economic activity has continued to expand at a moderate pace," according to a news release announcing the vote. "Job gains remained solid and the unemployment rate was little changed in recent months. Household spending has continued to rise moderately while business fixed investment appears to have firmed somewhat." The statement noted that "inflation has increased in recent quarters" and that "near-term risks to the economic outlook appear roughly balanced." The Federal Reserve raised rates last December, as well.

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