US Fed raised interest rates on Wednesday and kept unchanged its plan on gradual tightening of monetary policy, as it expects US economy to grow at least three more years, Reuters reports.

Central bank’s interest rate was increased by quarter percentage point to the range of 2,00-2,25%. Bank is planning one more hike this year, three more next year and one in 2020.

According to US Fed’s forecasts, economic development pace will be 3,1% this year, which is higher than estimated. The growth will continue minimum three years amid low unemployment rate and inflation close to target level of 2%. Growth pace in 2019 will slow down to 2,5%, in 2020 to 2,0% and in 2012 to 1,8%.

Current unemployment level is 3,9%. It is estimated that next year it will decline to 3,5%.

Actions of US central bank faced critics from US President who thinks that interest rate hiking diminishes his efforts to boost economy.