Fed raises rate to 1.25 percent,<br> maintains ‘measured’ pace

Federal Reserve policy-makers raised the U.S. benchmark interest rate by a quarter-point to 1.25 percent and reiterated that further increases can come at a "measured'' pace, as long as inflation remains "relatively low.'' The first increase since May 2000 came on a unanimous vote, a sign that no Federal Open Market Committee member saw enough…

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