Business Services Industry
Fed lifts key interest rate, with more hikes likely to come.
Knight Ridder/Tribune Business News, July, 2004
The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jul. 1--Whether you're an average Joe looking for a car loan or a business borrowing millions, Wednesday's long-anticipated but small increase in a key interest rate isn't likely to bust your budget.
But it's just the beginning. Economists expect a string of increases by the Federal Reserve as it tries to hold down inflation without hurting economic growth.
How the Fed handles that balancing act is likely to determine the strength and length of the economic recovery -- both nationally and in Connecticut, which only recently started generating real job growth.
On Wednesday, the Fed raised short-term interest rates by a quarter-point to 1.25 percent. It was the first...
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