Fed raises rates, boosts outlook for borrowing costs in 2017

FEDERAL Reserve officials raised interest rates for the first time this year and forecast a steeper path for borrowing costs in 2017. Shown is Federal Reserve Chair Janet Yellen .  / BLOOMBERG NEWS PHOTO/ANDREW HARRER
FEDERAL Reserve officials raised interest rates for the first time this year and forecast a steeper path for borrowing costs in 2017. Shown is Federal Reserve Chair Janet Yellen . / BLOOMBERG NEWS PHOTO/ANDREW HARRER
(Updated 2:29 p.m.) WASHINGTON - Federal Reserve officials raised interest rates for the first time this year and forecast a steeper path for borrowing costs in 2017, saying inflation expectations have increased “considerably” and suggesting the labor market is tightening. The Federal Open Market Committee cited “realized and expected labor market conditions and inflation” in…

Want More?

Subscribe or register with Providence Business News to keep reading.

REGISTER
for 2 more stories

Subscribe now for $1 for 4 weeks
Already a Subscriber? Login now

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

- Advertisement -