Fed hikes rate, lowers 2019 projection to 2 increases

Fed hikes rate, lowers 2019 projection to 2 increases

-The Fed take the target range for its benchmark funds rate to 2.25 percent to 2.5 percent.

-Central bank officials now forecast two hikes next year, down from three rate raises previously projected.

-However, the Fed continues to include in its statement that further "gradual" rate hikes would be appropriate.

-GDP is now seen as rising 3 percent for the full year of 2018, down one-tenth of a percentage point from September, and 2.3 percent for 2019, a 0.2 percent point reduction.

https://www.cnbc.com/2018/12/19/fed-hikes-rates-by-a-quarter-point-.html