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FED raises interest rates for second time this year

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(VOVWORLD) - The Federal Reserve’s Open Market Committee on Wednesday raised their benchmark interest rate 25 basis points to a range of 1% to 1.25%.
FED raises interest rates for second time this year - ảnh 1Federal Reserve Chair Janet Yellen (Photo: VNA) 

In explaining the decision, FED said in a statement that job gains have moderated but have been solid, on average, since the beginning of the year, and the unemployment rate has declined. Federal Reserve Chair Janet Yellen will hold a press conference soon to announce the decision.

The FED hiked interest rates this March and last December after President Trump announced he intends to lower taxes, slash regulations, and spend more on infrastructure. 

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