Fed raises rates again

[VoyT]

WASHINGTON - Federal Reserve policymakers raised a key interest rate Thursday, declaring the economy is on firm footing despite gyrating energy prices. The central bank signaled that borrowing costs would head even higher this year.
Chairman Alan Greenspan and his colleagues boosted the federal funds rate by one-quarter of percentage point to 3.25 percent. It was the ninth such increase since the Fed began to tighten credit in June 2004 in an effort to keep inflation under control.