Fed Raises Key Interest Rate by Quarter Point

The move by the Federal Reserve puts the short-term rate at 1.5 percent

hide captionThe move by the Federal Reserve puts the short-term rate at 1.5 percent.

For the second time this summer, Federal Reserve policymakers raise a key short-term interest rate by one quarter of a percentage point. The move was in line with the Fed's stated policy to keep raising interest rates at a measured pace — despite some signs of economic slowdown. Hear NPR's Jim Zarroli.

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