The central bank boosts a key short-term rate for the fourth time this year; keeps language intact.
November 10, 2004: 2:17 PM EST
NEW YORK (CNN/Money) - The Federal Reserve raised its target for a key interest rate a quarter percentage point Wednesday, the fourth such hike this year, in a move that was widely expected.
The central bank said it raised its target for the fed funds rate, an overnight bank lending rate, to 2 percent from 1.75 percent. It had previously raised the rate in June, August and September.
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