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    The Fed Just Raised Its Rate Again. When Will It Start To Hurt Consumers?

    Bullish stocks, low unemployment, high confidence — from most angles, the economy is strong. But questions linger as the Federal Reserve raises interest rates for the third time in 2018.
    by Colin Dwyer Sep 26, 2018 4 minutes
    Federal Reserve Board Chairman Jerome Powell, seen before a Senate committee hearing in July. The Fed announced another interest rate bump Wednesday on the strength of a healthy economy.

    Updated at 2:11 p.m. ET

    The Federal Reserve announced another quarter-percentage-point increase in interest rates Wednesday as expected, citing a strong labor market and economy.

    The Fed raised the benchmark borrowing rate to a range of 2 percent to 2.25 percent, the third hike this year.

    In its announcement, the Fed said: the labor market "has continued to strengthen and ... economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low."

    In the three months since the Fed last raised rates, there, , blockbuster , a rock-bottom and . And on Wednesday, the Fed raised its forecast for economic growth this year to 3.1 percent from the 2.8 percent it projected in June.

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