The Federal Reserve Bank in Washington DC

WASHINGTON, DC–To little surprise the Federal Reserve raised the federal funds rate to a range of 1.5% to 1.75%. It also boosted its forecast for US growth this year and in 2019, predicting an economic expansion of 2.7% and 2.4%, respectively. “The economic outlook has strengthened in recent months,” it said as part of its statement released on Wednesday at the conclusion of its two-day policy meeting.