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Fed raises rates half point to curb rapid growth
The Federal Reserve hikes rates by a half point, the sixth increase since last June, signaling a tougher stance to slow an economy seen as growing too fast. Analysts expect further moves, with the target federal funds rate reaching 6.5 percent and banks nudging up prime to 9.5 percent.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Alan Greenspan
Sung Won Sohn
Wells Fargo
Minneapolis
Greenspan
Joel Naroff
Naroff Economic Advisors
Holland
David Orr
First Union of
Charlotte
N.C