The Federal Reserve plans to slowly raise interest rates over the coming year to keep in step with improving economic conditions. With prices stable and near full employment levels, the Reserve intends to implement the changes very cautiously to prevent volatility in the markets.
The Fed increased interest rates in March and will likely raise them twice more this year to reach its goal of 2% by next year to keep the economy from suffering the damaging side effects of growing too quickly.
Source: Reuters.com
