{"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 Raises Key Rate, Sees 2 More Hikes This Year' data-url='/boclips/videos/5c54d75ad8eafeecae20b2cd' data-video-url='/boclips/videos/5c54d75ad8eafeecae20b2cd' 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 Raises Key Rate, Sees 2 More Hikes This Year\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 key interest rate and signaling confidence in the U.S. economy's durability but plans to continue a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell.              The Fed...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eThe Federal Reserve is raising its key interest rate and signaling confidence in the U.S. economy's durability but plans to continue a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell.\u003cbr/\u003e              The Fed said it expects to increase rates twice more this year. At the same time, it increased its estimate for rate hikes in 2019 from two to three, reflecting more optimistic expectations for solid growth and low unemployment.\u003cbr/\u003e              In a statement ending its latest policy meeting, the Fed boosted its key short-term rate Wednesday by a modest quarter-point to a still-low range of 1.5 percent to 1.75 percent. It also said it will keep shrinking its bond portfolio. The actions mean consumers and businesses will face higher loan rates over time.\u003cbr/\u003e              Taken together, the Fed's actions and forecasts Wednesday suggest a belief that the economy remains sturdy even nearly nine years after the Great Recession ended.\u003cbr/\u003e            \u003cbr/\u003e\u003cbr/\u003e              POOL\u003cbr/\u003e              Washington - 21 March 2018\u003cbr/\u003e              1. Head on medium of Jerome Powel entering news conference\u003cbr/\u003e              2. Side view of Jerome Powel entering news conference\u003cbr/\u003e              3 . SOUNDBITE (English) Jerome Powel, Chairman Federal Reserve:\u003cbr/\u003e              \"We decided today to raise the target rate for the federal funds rate by one quarter percentage point, bringing it to one and a half  to one and three-quarter percent. This decision marks another step in the ongoing process of gradually scaling back monetary policy accommodation, a process that has been under way for several years now.\"\u003cbr/\u003e              4. Powell cutaway of news conference \u003cbr/\u003e              5. SOUNDBITE (English) Jerome Powel, Chairman Federal Reserve:\u003cbr/\u003e              \"Job gains averaged 240,000 per month over the past three months, well above the pace needed in the longer run to absorb new entrance into the labor force. The   unemployment rate remained low in February at 4.1 percent while the labor force participation rate moved higher. Over the past 4 years the participation rate has remained roughly unchanged. That's a sign of improvement given that the aging of our population is putting downward pressure on the participation rate. And we expect that the job market will remain strong.\"  \u003cbr/\u003e              6. Reporters cutaway\u003cbr/\u003e              7. SOUNDBITE (English) Jerome Powel, Chairman Federal Reserve:\u003cbr/\u003e              \"Based on the projections that committee participants submitted for this meeting, the median projection for the growth of inflation adjusted GDP is 2.7 percent this year, 2.4 percent next year, and 2 percent in 2020 a bit above it's estimated longer run rate. The median projection for unemployment--for the unemployment rate stands at 3.8 percent in the fourth quarter of this year and runs at 3.6 percent over the next two years. Almost a percentage point below the median estimate of its longer run normal rate. Finally, the median inflation projection is 1.9 percent this year 2 percent next year and 2.1 percent in 2020\"\u003cbr/\u003e              8. Reporters cutaway\u003cbr/\u003e              9. SOUNDBITE (English) Jerome Powel, Chairman Federal Reserve:\u003cbr/\u003e              \"On the one hand the risk would be that we wait to long and then we have to raise rates quickly and that foreshortens the expansion. We don't want to do that. The , on the other side if we raise rates too quickly, inflation then really doesn't get sustainably up to 2 percent, and that will hurt us going forward. We need that, and it's we need to make sure that inflation expectations are anchored at 2 percent. So, we're trying to take that middle ground, and the committee continues to believe that the middle ground consist of further gradual increases in the federal funds rate as long the economy is broadly on this path.\"\u003cbr/\u003e              10. Reporters cutaway\u003cbr/\u003e              11. SOUNDBITE (English) Jerome Powel, Chairman Federal Reserve:\u003cbr/\u003e              \"Press conferences: So, that's something that I'm going to be carefully considering, I have not made a decision about it. My colleagues and I are committed to communicating as clearly as possible about what we're doing and why we're doing it. I would want to think very carefully about it and make sure that no one would take more frequent press conferences as a signal of the path of policy. So it is something that will be thinking about.\"\u003cbr/\u003e              12. Medium Jerome Powell cutaway\u003cbr/\u003e              13. SOUNDBITE (English) Jerome Powel, Chairman Federal Reserve:\u003cbr/\u003e              \"A number of participants in this FOMC (Fed Open Market Committee) did bring up the issue of tariffs and if I could summarize what came out of that, it was first, that there is no thought I think that changes in trade policy should have any effect on the current outlook. The second thing is I would say is that a number of participants reported in about their conversations with business leaders around the country and reported that trade policy has become a concern going forward for that group.\"\u003cbr/\u003e              14. Side view Jerome Powel leaving news conference\u003cbr/\u003e              15. 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