National Federal Reserve Raises Interest Rate By Jim Zarroli Published December 13, 2004 at 9:00 PM PST This story was published more than 19 years ago. Facebook WhatsApp Email Listen • 0:00 The Federal Reserve raises a key short-term interest rate another quarter of a point, in an attempt to keep inflation under control as the economy continues to show signs of improvement. NPR's Jim Zarroli reports. Copyright 2004 NPR