In a widely expected move, the Federal Reserve has raised its key interest rate by 25 basis points for the third time this year.
The central bank expressed optimism over the US economy and projected growth to remain at a steady pace through 2019. Inflation was forecast to linger around 2% over the next two years while the unemployment rate seen falling to 3.5% next year. All in all, the relatively upbeat assessment of the US economy and little concern shown over trade tensions reinforced expectations of a rate hike in December. However, the key takeaway was the removal of the… Read More