--- title: Federal Reserve Raises Key Interest Rate and Signals More Increases May Come | TIME description: The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases. canonical: https://time.com/video/siygTCgJ/ og:title: Federal Reserve Raises Key Interest Rate and Signals More Increases May Come og:description: The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases. og:url: https://time.com/video/siygTCgJ/ og:image: https://cdn.jwplayer.com/v2/media/siygTCgJ/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Federal Reserve Raises Key Interest Rate and Signals More Increases May Come twitter:description: The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases. twitter:image: https://cdn.jwplayer.com/v2/media/siygTCgJ/poster.jpg?width=720 --- # Federal Reserve Raises Key Interest Rate and Signals More Increases May Come > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Federal Reserve Raises Key Interest Rate and Signals More Increases May Come [Watch (HLS stream): Federal Reserve Raises Key Interest Rate and Signals More Increases May Come](https://cdn.jwplayer.com/manifests/siygTCgJ.m3u8) (1:04)  _Published 2018-06-13. The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases._ --- Jul 28, 2023 12:06 AM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Federal Reserve Leaves Interest Rates Unchanged as Trump Demands Cuts](/video/txOKweLo/) ### Federal Reserve Leaves Interest Rates Unchanged as Trump Demands Cuts [Federal Reserve Raises Interest Rates by a Quarter of a Percentage Point](/video/udX0dXuW/) ### Federal Reserve Raises Interest Rates by a Quarter of a Percentage Point [Fed Leaves Key Interest Rate Unchanged but Signals Possible Future Cuts](/video/fHCGbSKS/) ### Fed Leaves Key Interest Rate Unchanged but Signals Possible Future Cuts --- ## Transcript We think that gradually returning interest rates to a more normal level as the economy strengthens, is the best way the Fed can help sustain an environment in which American households and businesses can thrive. Today, we've taken another step in that process by raising our target range for the federal funds rate by a quarter of a percentage point. The economy is continuing to make progress The economy has strengthen so much since I joined fed in 2012 even in really last couple of years. The economy is in very different place. Unemployements was 10 % at highist crisis 3. 8 % now and moving on. Really, the decision you see today is another sign that the US economy is in a great shape Growth is strong, labor markets are strong, inflation is close to target and that's what you're seeing. Many years we had interest rates held low, to support economic activity. And it's been clear that as we've gotten closer to our statutory goals, we should normalize policy and that's really what we've been consistently doing for some years now. ```json {"@context":"https://schema.org","@type":"VideoObject","name":"Federal Reserve Raises Key Interest Rate and Signals More Increases May Come","description":"The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/siygTCgJ/poster.jpg?width=720","uploadDate":"2018-06-13T22:20:12.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/siygTCgJ.m3u8","embedUrl":"https://time.com/video/siygTCgJ/","duration":"PT1M4S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/video/siygTCgJ/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}} ```