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Suggesting No Letup, Fed Raises Rate Again
By David Leonhardt

Saying that the economy was still getting stronger, the Federal Reserve raised its benchmark short-term interest rate again yesterday and gave investors reason to think that it would continue lifting rates through the end of the year.

The Fed lifted the rate to 3.5 percent, from 3.25 percent, the 10th increase since last summer, as the economy has recovered from recession and its long hangover.

The change in the benchmark - which directly affects many credit card and business loans and usually influences mortgage rates though with a lag - had been expected.

[Full Article]

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