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Article: FED RAISES BENCHMARK INTEREST RATES CENTRAL BANK SUGGESTS INFLATION-FIGHTING MOVE WILL BE LAST FOR A WHILE WHITE HOUSE RELIEVED; WALL STREET GOES ON BUYING FRENZY.(MAIN)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- May 18, 1994
CopyrightCOPYRIGHT 1994 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JAMES RISEN Los Angeles Times
WASHINGTON The Federal Reserve, in its most aggressive inflation-fighting action of the year, raised short-term interest rates Tuesday by half a percentage point and then signaled its intent to hold off on additional hikes.
In an unusual public statement suggesting the future direction of interest rates, the Fed indicated that Tuesday's large rate hike double the size of its moves earlier in the year might be the last it imposes for the foreseeable future.
Fed officials raised two benchmark interest rates underlying the rates charged by banks and other lenders for short-term loans. The federal funds ...