The Federal Reserve raised short-term interest rates by a quarter point on Wednesday. It’s the Fed’s third rate hike since December. And it’s a sign that the central bank believes the U.S. economy is on solid ground.
“It reflects the progress the economy has made,” Fed chair Janet Yellen said at a press conference.
The majority of Fed officials see at least one more rate hike this year. They meet again four more times this year — in July, September, October and December.
Article Source: Patrick Gillespie, “Fed hikes interest rates and brightens economic outlook.” CNN Money, June 14, 2017. Web. 15Jun17.
Cartoon: Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2017