Business News Roundup, June 14

Economy

Interest

rate rises

The Federal Reserve raised interest rates by a quarter of a percentage point Wednesday and signaled it will raise rates two more times this year, as Fed Chairman Jerome Powell proclaimed the U.S. economy to be in “great shape” and that “most people who want to find jobs are finding them.”

Powell, speaking at a news conference after the Fed’s two-day meeting, said the economy has strengthened significantly since the financial crisis and is approaching a “normal” level, where monetary policy may no longer be needed to either encourage or discourage economic activity.