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.


at

1 comment:

Anonymous said...

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 !

December 17, 2015 at 4:18 AM

Post a Comment

Subscribe to: Post Comments (Atom)

Fair Use Notice

Fair Use Statement: This site may contain copyrighted material, the use of which may not have been authorized by the copyright owner. I am making such material available in an effort to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. I believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: “http://www.law.cornell.edu/uscode/17/107.shtml” If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.