WASHINGTON, D.C.: The US Federal Reserve raised the benchmark interest rate on Wednesday, staking its independence despite repeated attacks by President Donald Trump, but it also sent a clear signal it expects to take it slow next year in the face of plateauing growth.
The Fed’s fourth rate increase of the year, which sent Wall Street tumbling, moved the central bank squarely into the crosshairs of the president, who had said earlier a rate hike would be “foolish.”
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