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Axios
Axios
Business
Courtenay Brown

Fed raises interest rates by 0.25%

Federal Reserve Board Chairman Jerome Powell speaks during a news conference in September. (Photo by Mark Wilson/Getty Images)

The Federal Reserve said on Wednesday that interest rates would rise by 0.25%, setting a new target range of 2.25%-2.5%. The central bank also dialed back rate hike expectations for 2019.

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