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Federal Reserve increases interest rates, defying Trump as it backs off stimulus efforts
By Washington Post Staff
September 26 at 2:00 PM
The rate increase makes it more expensive for businesses and households to borrow money and is part of the Fed’s effort to return rates to more historically normal levels after rates fell to near zero following the 2008 economic crisis.
President Trump has criticized the Fed’s rate hikes, which are part of a move away from a decade-long effort to stimulate economic growth.
This is a developing story. It will be updated.
https://www.washingtonpost.com/news/business/wp/2018/09/26/federal-reserve-increases-interest-rates-defying-trump-as-it-backs-off-stimulus-efforts/