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Fed to Raise Rates

Fed to Raise RatesFed to Raise Rates

There is little room for doubt that the US Federal Reserve will raise the benchmark interest rate in the coming week for only the second time in a decade, AFP reported. With unemployment at a nine-year low, jobs being created at an average of 180,000 per month, the economy growing at better than 3% in the most recent quarter and some signs of a pickup in inflation, the writing is on the wall. Some members of the Federal Open Market Committee, which sets the key federal funds rate, the basis for mortgage and lending rates, have even cautioned that failing to raise rates in December could harm the central bank’s credibility.

 

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