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  • THE FOURTH RATE HIKE DURING THE YEAR THE FED ANNOUNCED THAT THE FUND RATE WILL BE RAISED BY 25 BASIS

    The US Federal Reserve Board (Fed) raised interest rates last Wednesday and said it will maintain the core of the tightening monetary policy plan, although its officials said it may slow down further interest rate hikes next year. US central bank officials unanimously decided to raise the federal funds rate target range by another 25 basis points to 2.25%-2.5%. This marks the fourth rate hike by the Fed this year. It is also the ninth rate hike since the end of 2015. The Fed is moving along the path of monetary policy normalization. Fed officials also lowered their forecast for US economic growth in 2019 from the previous 2.5% to 2.3%. According to the median estimate of the federal funds rate, the Fed officials estimate that they will raise interest rates twice next year, less than three times in September, due to the expected slowdown in the US economy. The Fed continues to raise interest rates to reduce the economic stimulus brought by the monetary policy implemented in recent years. The US economy is currently growing faster than the Fed believes to be sustainable. However, there are fears that the US economy may not be optimistic next year as the fiscal stimulus from the Trump administration's spending initiatives and the $1.5 trillion tax cuts fades and the global economy slows.


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