Fed raises key interest rate again

The move reflects the steadiness of growth, the job market's strength and inflation that's finally nearing the Fed's target level.
1:19 | 06/13/18

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Transcript for Fed raises key interest rate again
The main takeaways that the economy is doing very well. Most people who want to find jobs are finding them. And unemployment and inflation are low. Interest rates have been low for some years while the economy has been recovering from the financial crisis. For the past few years we've been gradually raising interest rates and along the way we've tried to explain the reasoning behind our decisions. In particular we think that gradually returning interest rates to a more normal level as the economy strengthens. Is the best way to fit can help sustain an environment in which American households and businesses can thrive. Today we've taken another step in that process by raising our target range for the federal funds rate by a quarter percentage point. My colleagues and I meet eight times a year. And take a French a fresh look each time at what is happening in the economy and consider whether our policy needs adjusting. We don't put our interest rate decisions on hold for on auto pilot because the economy can always evolved in unexpected ways. History has shown that moving interest rates either too quickly or too slowly can lead to bad economic outcomes. We think the outcomes are likely to be better overall. If we are as clear as possible about what we're likely to do and why.

This transcript has been automatically generated and may not be 100% accurate.

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