Wednesday, December 16, 2015

The Fed Raises Interest Rate For First Time In Almost A Decade

Let the fun begin.

Analysis: Fed raises benchmark interest rate for first time in nearly 10 years



The Federal Reserve on Wednesday raised its benchmark short-term interest rate for the first time in 9 ½ years, providing a long-awaited vote of confidence for the recovery from the Great Recession by beginning to remove the last of the central bank’s extraordinary steps to boost economic growth.
Note: Mobile readers can scroll down for the live stream plus analysis and commentary from The Times.
Seven years to the day after lowering the rate to near zero, members of the policymaking Federal Open Market Committee edged it up 0.25 percentage point.
Federal Reserve Chairwoman Janet Yellen explained the decision in a news conference earlier today. The Times will have her full remarks below once the Fed makes them available.


1 comment:

  1. Raising the rate sucks for borrowers, those in debt or need to go into debt. Raising rates is a godsend to those who already have saved investments and look at next to nothing interest for their 'Golden Years'.

    When I went into work place (1981), interest rates were awesome (15% for an 18 month CD or something like that). Now, about .75% a year - hardly worth keeping in bank in fact. I'm a little over 50 so I need some damn money growth dammit !

    ReplyDelete

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