Federal Reserve projects further gradual hikes in key rate

  • In this June 13, 2018, file photo, Federal Reserve Chair Jerome Powell speaks to the media after the Federal Open Market Committee meeting in Washington. The Federal Reserve says it expects low unemployment and rising inflation will keep it on track to raise interest rates at a gradual pace over the next two years. By late 2019, the Fed says its key policy rate should be at a level that will be slightly restrictive for growth. (AP Photo/Jacquelyn Martin, File)

WASHINGTON — The Federal Reserve said Friday it expects low unemployment and rising inflation will keep it on track to raise interest rates at a gradual pace over the next two years. By late 2019, the Fed says its key policy rate should be at a level that will be slightly restrictive for growth.

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