By Reuters
The economy in the majority of regions in the United States expanded at a modest or moderate growth pace from April through late May and there were signs that the Federal Reserve's actions to cool demand were beginning to be felt, a Fed report showed on Wednesday. The Fed raised its benchmark overnight lending rate by half a percentage point last month, to a target range of between 0.75% and 1%, and plans further increases of the same size at its next two meetings in June and July. Fed Chair Jerome Powell has said that policymakers will continue to ratchet up rates until inflation, running at more than three times the central bank's 2% target, comes down in a “clear and convincing” way.
Via:: Sports Headlines
