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Federal Committee on the open market unanimously voted for interest rate rise to 0.5-0.75% per annum. This is the second increase in the past ten years (the first took place a year ago, in December of 2015).
Fed explained their decision with the continuation of moderate growth in the US economy and the improvement of the situation on the labor market. Although inflation remains below the targeted 2%, the Fed expects its gradual acceleration in the medium term. Raising the interest rate it was widely expected.
The Fed expects that the economy will need only "gradual" increase in interest rates in the future, the regulator said in a statement.
During the press conference, Yellen said that now it is too early to say how the new policy of Donald Trump could affect the United States economy. The Fed chairman said that the country's economic outlook is "highly uncertain".
"All members of the Committee recognize the serious uncertainties about how economic policy may change and how it will affect the economy - said Yellen. She noted that she would not give the elected president of the United States advice on how to conduct economic policy.
"I am a firm believer in the independence of the Federal Reserve," - Yellen told reporters.
The Fed chief also said she wants to see "a tax policy, which contributes to the acceleration of productivity growth that can lead to investment growth".
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