New York – The US Federal Reserve raised interest rates by a quarter point on Wednesday and signalled a faster pace of increases in 2017.

This comes as the Trump administration takes over with promises to boost growth through tax cuts, spending and deregulation.
The rate increase, regarded as a virtual certainty by financial markets in the wake of a string of generally strong economic reports, raised the target federal funds rate 25 basis points to between 0.50 percent and 0.75 percent.
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