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BREAKING Fed Raises Rates

The Federal Reserve has just released a staement that they have raised the interest rates they control.

The Federal Reserve has decided to raise the target range for the federal funds rate to 1/4 to 1/2 percent, from 0 to 1/4.

The full statement is here.


There were no dissents. All voting members of the FOMC voted for the hike.


 The interest rate paid on required and excess reserve balances at the Federal Reserve has been raised to 0.50 percent from 0.25 percent, effective December 17, 2015.