Fed raises rates, trims forecast for hikes in 2019 to two

THE FEDERAL RESERVE, led by Chairman Jerome Powell, raised the federal funds rate target to a range of 2.25 percent to 2.5 percent, the central bank's fourth hike this year. But Powell and company signaled that they expect two rate hikes in 2019, as opposed to the three that were forecast previously. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER
THE FEDERAL RESERVE, led by Chairman Jerome Powell, raised the federal funds rate target to a range of 2.25 percent to 2.5 percent, the central bank's fourth hike this year. But Powell and company signaled that they expect two rate hikes in 2019, as opposed to the three that were forecast previously. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER
WASHINGTON – The Federal Reserve raised borrowing costs for the fourth time this year, ignoring a stock-market selloff and defying pressure from President Donald Trump, while dialing back projections for interest rates and economic growth in 2019. By trimming the number of rate hikes they foresee in 2019 to two from three, policy makers signaled…

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