Fed raises US rates to 3.0 percent

WASHINGTON - The Federal Reserve Tuesday lifted the headline US interest rate by a quarter of a percentage point to 3.0 percent.
The US central bank's policy-making committee said that even after the hike, its monetary policy remains "accommodative," with future rate movements to be "measured."
"The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 3.0 percent," the Fed's policymaking committee said in a statement.

05/03/2005 18:23 GMT