The Federal Reserve raised interest rates by a quarter of a percentage point on 13 dec, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in U.S. economic growth.
Having raised its benchmark overnight lending rate three times this year, the Fed projected three more hikes in each of 2018 and 2019 before a long-run level of 2.8 percent is reached. That is unchanged from the last round of forecasts in September.
The S&P 500 dipped on Wednesday under pressure from the financial sector after the Federal Reserve made a widely expected interest rate hike but kept its rate outlook for coming years even as it projected faster U.S. economic growth.
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