{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Fed Boosts Interest Rate For Third Time in 2017' data-url='/boclips/videos/5c54d6b1d8eafeecae20598b' data-video-url='/boclips/videos/5c54d6b1d8eafeecae20598b' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nFed Boosts Interest Rate For Third Time in 2017\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eThe Federal Reserve is raising its benchmark interest rate for the third time this year, signaling its confidence that the U.S. economy remains on solid footing 8 and a half years after the end of the Great Recession.               The...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eThe Federal Reserve is raising its benchmark interest rate for the third time this year, signaling its confidence that the U.S. economy remains on solid footing 8 and a half years after the end of the Great Recession. \u003cbr/\u003e              The Fed is lifting its short-term rate by a modest quarter-point to a still-low range of 1.25 percent to 1.5 percent.\u003cbr/\u003e              It also expects inflation to rise from 1.7 percent this year to 1.9 percent in 2018 and 2 percent in 2019. The Fed's inflation target is 2 percent, But it has puzzlingly remained below that level for more than five years.\u003cbr/\u003e            \u003cbr/\u003e\u003cbr/\u003e              POOL \u003cbr/\u003e              Washington, DC - 13 December 2017\u003cbr/\u003e              1. Wide of Federal Reserve Chair Janet Yellen walking in the room\u003cbr/\u003e              2. SOUNDBITE (English) Janet Yellen, Federal Reserve Chair:\u003cbr/\u003e              \"Today the Federal Open Market Committee decided to raise the target range for the federal funds rate by one quarter percentage point, bringing it to one and a quarter to one and a half percent.\"\u003cbr/\u003e              3. Wide of Janet Yellen taking a seat\u003cbr/\u003e              4. SOUNDBITE (English) Janet Yellen, Federal Reserve Chair:\u003cbr/\u003e              \"Following a slowdown in the first quarter, economic growth stepped up to a solid three and a quarter percent pace in the second and third quarters of the year. Household spending has been expanding at a moderate rate. Business investment has picked up and favorable economic conditions abroad have supported exports. Overall we continue to expect that the economy will expand at a moderate pace. While changes in tax policy will likely provide some lift to economic activity in coming years, the magnitude and timing of the macroeconomic effects of any tax package remain uncertain.\" \u003cbr/\u003e              5. News conference room\u003cbr/\u003e              6. SOUNDBITE (English) Janet Yellen, Federal Reserve Chair:\u003cbr/\u003e              \"We still expect inflation will move up and stabilize around 2 percent over the next couple of years.\"\u003cbr/\u003e              7. Reporter asking question \u003cbr/\u003e              8. SOUNDBITE (English) Janet Yellen, Federal Reserve Chair:\u003cbr/\u003e              \"The median projection for growth of inflation adjusted gross domestic product where real GDP is two and a half percent this year and next and moderates to 2 percent by 2020.\"\u003cbr/\u003e              9. Cutaway\u003cbr/\u003e              10. SOUNDBITE (English) Janet Yellen, Federal Reserve Chair:\u003cbr/\u003e              \"The median projection for the unemployment rate stands at four point one percent in the fourth quarter of this year and runs close to 4 percent over the next three years. Modestly below the median estimate of its longer run normal rate.\"\u003cbr/\u003e              11. Yellen taking questions from the press\u003cbr/\u003e              12. SOUNDBITE (English) Janet Yellen, Federal Reserve Chair:\u003cbr/\u003e              \"Finally the median inflation projection is one point seven percent this year, one point nine percent next year and 2 percent in 2019 and 2020.\" \u003cbr/\u003e              13. Yellen taking questions from the press\u003cbr/\u003e              14. SOUNDBITE (English) Janet Yellen, Federal Reserve Chair:\u003cbr/\u003e              \"Compared with the projections made in September, real GDP growth is a little stronger, the unemployment rate is a bit lower and inflation is essentially unchanged.\"\u003cbr/\u003e              15. Yellen taking questions from the press\u003cbr/\u003e              16. SOUNDBITE (English) Janet Yellen, Federal Reserve Chair:\u003cbr/\u003e              \"The median projection for the federal funds rate is two point one percent at the end of next year, two point seven percent at the end of 2019 and three point one percent in 2020. Compared with the projections made in September, the median path for the federal funds rate is unchanged through 2019 and a touch higher in 2020.\"\u003cbr/\u003e              17. Yellen taking questions from the press\u003cbr/\u003e              18. SOUNDBITE (English) Janet Yellen, Federal Reserve Chair:\u003cbr/\u003e              \"This will be my last scheduled news conference. Over the next month and a half. I will do my utmost to ensure a smooth transition to my designated successor Jerome Powell.\" \u003cbr/\u003e              19. 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