Fed Raises Interest Rate to 2.75 Percent - 2005-03-22
The Federal Reserve raised a key U.S. interest rate a quarter percentage point to 2.75 percent on Tuesday, conceding inflation risks were growing but expressing confidence gradual rate rises can contain prices.
The central bank's policy-setting Federal Open Market Committee voted unanimously to boost the benchmark federal funds rate — which affects credit costs throughout the economy — for a seventh straight time since the current rate-rise campaign began last June.
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