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Federal Reserve Announces Modest Interest Rate Hike
On Wednesday, the Federal Reserve raised short term interest rates by one-quarter of one percent. This is the first rate hike in more than four years, but it will likely not be the last as the economy continues to strengthen...

Commercial banks raised their prime lending rate one quarter of one percentage point also. Economists expect to see slight decreases in the housing market and in automobile sales as a result of the rate increase.

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