It gave no hint of when that might occur.Read more:U.S. Federal Reserve hikes interest rate for second time in 3 monthsArticle Continued BelowToronto, New York markets see modest losses as U.S. Fed releases meeting minutesNorth American markets rally as U.S. Federal Reserve hikes interest ratesThe latest Fed rate hike, announced in a statement after a policy meeting, comes as the U.S. economy is growing only sluggishly.
The U.S. Federal Reserve raises the federal funds rate by a quarter percentage point to a level between the 1.0-to-1.25 percent range, and outlines a plan to trim its bond holdings and other securities. This is the fourth increase since December 2015.