Federal Reserve Raises Rates; Hints at Future Increases at 2006-02-06 23:45:40
The Federal Reserve on Tuesday raised interest rates to the highest level in nearly five years and left the door open for at least one more rate hike as Alan Greenspan closed the door on his tenure as Federal Reserve Chairman. At his final meeting, the central bank voted to boost its target for the federal funds rate to 4.5 percent. It was the 14th quarter-point move in a credit-tightening campaign that began 19 months ago.
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