Fed Raises Rates and Signals Faster Path Next Year

By Nick Timiraos Updated March 21, 2018 2:06 p.m. ET WASHINGTON—The Federal Reserve said it would raise short-term interest rates a quarter-percentage point and signaled it could lift them at a slightly more aggressive pace in coming years to keep the strengthening economy on an even keel. Fed officials said they would increase their benchmark federal-funds rate to a range between 1.5% and 1.75% and penciled in a total of three rate increases for this year.

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