Fed Hikes Interest Rates and Brightens Economic Outlook

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.

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Article Source: Patrick Gillespie, “Fed hikes interest rates and brightens economic outlook.” CNN Money, June 14, 2017. Web. 15Jun17.

http://money.cnn.com/2017/06/14/news/economy/federal-reserve-june-meeting/index.html

Cartoon: Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2017