Fed raised target for fed funds by 25 basis points to 3.75%. The eleventh rate hike came despite what some economists believed that Hurricane Katrina may cause Fed to pause. Since mid - 2004 Fed has raised interest rate eleven times from one percentage rate. Fed noted that Katrina has created some near term uncertainty and higher energy price volatility but impact of the Hurricane Katrina is not likely to 'pose a more persistent threat'.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.
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