Economics
Fed Raises Rates, Turns More Cautious on Outlook for 2019 Hikes
- Risks ‘roughly balanced’ but Fed flags global economy concerns
- Officials lower median projection for GDP growth in 2019
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The Federal Reserve raised borrowing costs for the fourth time this year, looking through a stock-market selloff and defying pressure to hold off from President Donald Trump, while dialing back projections for interest rates and economic growth in 2019.