Fed Boosts Key Rate Again

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The Federal Reserve raised a key interest rate on Tuesday to the highest level in more than four years and signaled more increases are likely.


The Fed announced it was pushing its target for the federal funds rate to 4 percent from 3.75 percent, where it had been since the Fed’s last interest-rate meeting on Sept. 20. It marked the 12th consecutive quarter-point increase since the Fed began gradually raising rates in June 2004.


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