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Fed Raises Interest Rates Again, Plans One More Bump This Year

The Federal Reserve said Wednesday it plans to raise short-term interest rates by another quarter-percentage point, and indicated additional increases are likely this year and through 2019. The money policy group believes rate bumps are needed to keep a strong economy humming along. The Federal Open Market Committee voted unanimously to raise the benchmark federal funds rate to a target range between 2% and 2.25%.

Fed Chairman Jerome Powell said, “Our economy is strong” and that “the overall growth outlook remains favorable.”

The Fed said factors contributing to the ongoing increases include a labor market that has continued to strengthen, and economic activity that has been rising at a strong rate. The Fed notes job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Additionally, household spending and business fixed investment have grown strongly.

Another factor the Fed considers is inflation. It says both overall inflation and inflation for items other than food and energy remain near 2% on a 12-month basis. Indicators of longer-term inflation expectations are little changed, on balance.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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