Fed Raises Key Interest Rate and Foresees 3 hikes in 2017

WASHINGTON (AP) — The Federal Reserve has raised a key interest rate in response to a solid U.S. economy and expectations of higher inflation, and it foresees three rate hikes in 2017.

The Fed’s action Wednesday will mean modestly higher rates on some loans.

The central bank announced after its latest policy meeting that it’s increasing its benchmark rate by a modest quarter-point to a still-low range of 0.5 percent to 0.75 percent. The Fed last raised the rate in December 2015 from a record low near zero set during the 2008 financial crisis.

The Fed’s move, only the second rate hike in the past decade, came on a unanimous 10-0 vote. It also released an updated economic forecast that showed modest changes to its outlook for economic growth, unemployment and inflation, mainly to take account of stronger growth and a drop in the unemployment rate for November to a nine-year low of 4.6 percent.

Its new projection has the unemployment rate dipping to 4.5 percent by the end of 2017 and remaining at that level in 2018. full story

ALSO SEE: The Maximum, Minimum President

Follow Us

Facebooktwittergoogle_plusrssinstagram

Get Updates!



About Rhett October 964 Articles
Rhett October is a man independent of the nanny state. He sees what is obvious but to many others is a successful deception. He has a crush on Tomi Lahren. Follow him on Twitter @RhettOctober "After this, there is no turning back. You take the blue pill—the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill—you stay in Wonderland, and I show you how deep the rabbit hole goes. Remember: all I'm offering is the truth. Nothing more." -Morpheus
  • jonathanwkelly

    Are they removing the finger from the dyke (no reference to Hillary or Huma) so they can implode the economy and blame Trump?