The United States central bank raised its main interest rate Wednesday for the third time this year. The rate increase could affect not only the U.S. economy, but economies around the world. Experts say the move could mark the end of what has been called the central bank’s “accommodative” policy. That monetary policy was put in place after the international financial crisis 10 years ago. With it, bank officials sought to fuel economic growth through low interest rates and big loans. On Wednesday, the U.S. Federal Reserve Bank raised its federal funds rate to between two and 2.25 percent. Big, private banks pay this rate for short-term loans from the Federal Reserve, but it affects many other kinds of loans. Observers note that almost all important measures of the U.S. economy are strong. From April to June, the economy grew at a faster-than-expected rate of 4.2 percent.
Title: US Move to Raise Interest Rates Could Have a Big Effect
Content: <div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/94280b66-841f-404b-8f3e-9eb129c3484b_hq.wav' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='US Move to Raise Interest Rates Could Have a Big Effect' data-article-id='3396'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='9875'>The United States central bank raised its main interest rate Wednesday for the third time this year.</span> <span data-start-time='9875' data-end-time='19021'>The rate increase could affect not only the U.S. economy, but economies around the world.</span> <span data-start-time='19021' data-end-time='29292'>Experts say the move could mark the end of what has been called the central bank’s “accommodative” policy.</span> <span data-start-time='29292' data-end-time='39417'>That monetary policy was put in place after the international financial crisis 10 years ago.</span> <span data-start-time='39417' data-end-time='49375'>With it, bank officials sought to fuel economic growth through low interest rates and big loans.</span> <span data-start-time='49375' data-end-time='62688'>On Wednesday, the U.S. Federal Reserve Bank raised its federal funds rate to between two and 2.25 percent.</span> <span data-start-time='62688' data-end-time='75250'>Big, private banks pay this rate for short-term loans from the Federal Reserve, but it affects many other kinds of loans.</span> <span data-start-time='75250' data-end-time='83250'>Observers note that almost all important measures of the U.S. economy are strong.</span> <span data-start-time='83250' data-end-time='91667'>From April to June, the economy grew at a faster-than-expected rate of 4.2 percent.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/2831/8E2BAC81-F5AD-4091-BF90-D0743952E81C_cx0_cy1_cw0_w1023_r1_s.jpg'/></div></div><div id='question-content' style='display:none;'><div class='vocabulary_question question-container' data-question-id=11599 data-hint-location='29292' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/what_does_monetary_mean.wav'>What does monetary mean?</div><div class='choices' data-correct-choice='related to the money in a countrys economy'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/related_to_the_money_in_a_countrys_economy.wav'><span>related to the money in a countrys economy</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/relating_to_or_involving_a_serious_condition.wav'><span>relating to or involving a serious condition</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/related_to_divorce.wav'><span>related to divorce</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/related_to_regional_culinary_arts.wav'><span>related to regional culinary arts</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=11600 data-hint-location='0' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/the_united_states_central_bank_raised_its_what_on_wednesday.wav'>The United States central bank raised its what on Wednesday?</div><div class='choices' data-correct-choice='main interest rate'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/main_interest_rate.wav'><span>main interest rate</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/population.wav'><span>population</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/debt_total.wav'><span>debt total</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/sea__level.wav'><span>sea level</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=11601 data-hint-location='39417' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/with_it_bank_officials_sought_to_fuel_economic_growth_through_low_interest_rates_and__blank_.wav'>With it, bank officials sought to fuel economic growth through low interest rates and <span class='blank'>big loans</span>.</div><div class='choices' data-correct-choice='big loans'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/steel_production.wav'><span>steel production</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/music_sales.wav'><span>music sales</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/big_loans.wav'><span>big loans</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2831/hard_work.wav'><span>hard work</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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