TOKYO — The Federal Reserve’s rate hike was welcomed in Asia as a sign of strength in the U.S. economy, a major market for the region’s exports. But it might also bring difficulties by complicating Chinese efforts to avoid a sharper economic slowdown and keep the yuan steady.
The U.S. central bank on Wednesday raised the Federal Funds Rate by a quarter percentage point, the first such increase in nearly a decade. The decision ended a long period of uncertainty about when the Fed would begin winding down the easy money era that was ushered in to heal the economic damage o...
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