Federal Reserve raises interest rates to 3.25%

The Federal Open Market Committee decided to raise its target for the federal funds rate by 25 basis points to 3-1/4 percent on Thursday 30 June. In its statement the FOMC maintained its "measured" stance and said that although energy prices have risen further, the expansion remains firm.

The Committee believes that, even after this action, the stance of monetary policy remains accommodative and, coupled with robust underlying growth in productivity, is providing ongoing support to economic ac

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