No shock: Fed boosts short-term rates
Susan Tompor | Detroit Free Press | March 15, 2017
Amid signs of an improving economy, the Federal Reserve gave the go-ahead Wednesday to a much-expected rate hike, boosting the short-term federal funds rate by a quarter-point.
“The simple message is the economy is doing well,” Federal Reserve chair Janet Yellen said at a news conference.
Wednesday’s move is just the third rate hike since December 2015 — and that increase was the first since late 2006.