CBO: Here’s when Fed will stop raising interest rates

Fed Funds Rate to level out at 3%

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The Congressional Budget Office, which provides nonpartisan analysis for the U.S. Congress, released its 2017 Budget and Economic Outlook, which showed a forecasted nine federal funds rate hikes by the year 2020.

Wednesday, the Federal Open Markets Committee met, deciding not to raise rates again after having just raised them in the March meeting. However, housing experts explainedthat recent economic data supports the consensus that the Fed will raise rates in December and once more in 2017.

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