US economy grows at moderate pace in June, with tighter labor market and muted inflation pressure, according to the latest survey results released by the Federal Reserve on Wednesday.
The U.S. Federal Reserve on Wednesday raised the benchmark interest rate by 25 basis points to a range of 1.50-3.75 percent and indicated a faster rate hike pace next year, which triggered significant adjustments in global financial markets.
The U.S. Federal Reserve on Wednesday announced it would reduce the pace of its monthly massive bond purchases, the third round of quantitative easing program, by 10 billion U.S. dollars each month starting January on the back of a stronger economic recovery.
The U.S. Federal Reserve announced on Wednesday that it would keep its monthly pace of bond purchases unchanged for now to stimulate the economy.
Ben Bernanke, the U.S. Federal Reserve chairman said on Wednesday that the central bank would start scaling back its massive bond-buying program later this year if the economy improves as expected.
The U.S. Federal Reserve said on Wednesday that the country's economic activity grew "at a modest to moderate pace" from April through mid-May, boosted by housing recovery and steady growth in consumer spending.
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