The US Federal Reserve raised the benchmark lending rate on Wednesday (June 13),the second increase of the year,and signaled two more hikes were coming in 2018 and four in 2019,a possible sign of concern about accelerating inflation.

The unanimous vote brings the federal funds rate to a range of 1.75-2.0 percent but the quarterly economic forecasts show central bankers now expect the rate to end the year at 2.4 percent rather than the 2.1 percent projected in March.

That implies four total rate increases this year.The Fed last raised the benchmark in March,the sixth increase since December 2015 as it tries to keep the economy growing at a sustainable pace without fueling inflation.

Source:https://www.straitstimes.com/business/us-federal-reserve-raises-key-interest-rate-to-175-2