US Federal Reserve raises key interest rate

1. The U.S. Federal Reserve System raised interest rates on 19 December 2018.
2. The rate hike lifted the target range for the Fed’s benchmark overnight lending rate by a quarter of a percentage point to a range of 2.25% to 2.50%.
3. It will mean higher borrowing costs for many consumers and businesses.
4. Jerome Powell is the Chairman of U.S. Federal Reserve System.

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