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Fed Raises Key Interest Rate for First Time in Almost a Decade

Dec 17 , 2015

The Federal Reserve said on Wednesday that it would raise short-term interest rates for the first time since the financial crisis, a decision it described as a vote of confidence in the American economy even as much of the rest of the world struggles.

The widely anticipated announcement — that the Fed would raise rates to a range between 0.25 percent and 0.5 percent — signals the beginning of the end for the central bank’s stimulus program. Fed officials emphasized that they intended to raise rates gradually, and only if economic growth continues. Short-term rates will rise by about one percentage point a year for the next three years, Fed officials predicted.


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