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Federal Reserve hikes key interest rate another quarter-point

Credit: CBSN
Published on June 14, 2018 - Duration: 01:15s

Federal Reserve hikes key interest rate another quarter-point

The Federal Reserve raised a key interest rate another quarter-point on Wednesday.

The federal funds target rate, which is now between 1.75 and 2 percent, is the highest it's been in nearly a decade, indicating that the nation's central bank has confidence the economy will continue to expand.

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