Fed Announces Slow Approach to Interest Rate Increases in 2015

By Tory Barringer

The Federal Reserve announced Wednesday that it intends to take a slow approach to raising interest rates in the coming year, even as the economy continues to strengthen. Given the current climate, the committee hinted that it will take steps to raise short-term interest rates in 2015, though it still would not commit to a timeframe, saying only that “it will likely be appropriate to maintain … the [current] federal funds rate for a considerable period of time.”

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