Fed Says Interest Rate Rises likely Nearing End

Published on:
12 September 2006 at 10:20 a.m. ET

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http://www.insidearm.com/news/00004717-fed-says-interest-rate-rises-likely-neari/

By Tim Ahmann, Reuters

The Federal Reserve on Tuesday said it thinks its 1-1/2 year long campaign of raising U.S. interest rates is nearing an end, saying a statement after its December meeting aimed to signal only a few more increases were likely.

The Fed raised the benchmark federal funds overnight lending rate by a quarter-percentage point to 4.25 percent at its Dec. 13 meeting, the 13th straight gathering at which it nudged credit costs higher.

In a statement after the meeting, Fed officials said “some further measured policy firming” was likely.

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