(WASHINGTON) JUST IN: Federal Reserve raises interest rates for second time this year by a quarter of a percentage point and more are on the way with policy makers promising at least three more this year #AceFinanceDesk reports

#AceFinanceReport – June.13: The Federal Reserve on Wednesday lifted its benchmark rate by a quarter of a percentage point, the second hike this year: And a majority of policy makers now expect a total of four interest rate increases this year. Fed officials had been split about whether to raise rates three times this year or four………Policy makers said in a one-page statement that the labor market “has continued to strengthen” and than economic activity “has been rising at a solid rate.” ……………..The federal funds rate, which helps determine rates for mortgages, credit cards and other borrowing, now stands at a range of 1.75% to 2% #AceFinanceDesk reports

Discover the English innovator who has found a way to convert the every day act of walking into an energy source for the future: Investors were expecting Wednesday’s quarter-point increase. The Fed is raising rates gradually to keep the economy in check as inflation creeps higher and the job market grows even tighter.

The unemployment rate is 3.8%, the lowest since 2000 and tied for the lowest reading since 1969……………The Fed offered an improved forecast for unemployment this year, lowering its forecast to 3.6%. It also forecast an even lower unemployment rate of 3.5% for 2019 and 2020: CNNMoney (Washington) First published June 13, 2018: 2:01 PM ET: https://t.co/Ed3hWyNraKhttps://t.co/UCZfjIQD8H

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