December 13, 2017

Federal Reserve Raises Interest Rate

The Federal Reserve has raised interest rates as expected from 1-1/4 percent to 1-1/2 percent. It has lifted its forecast for growth in 2018. According to the Federal Reserves, it expects the economy to expand by 2.5% next year and projects three further rate increases during that time.

Janet Yellen, who chairs the Federal Reserve, will step down in February and be replaced by if confirmed by the Senate, Jerome Powell, who is Presidents Trump’s nominee.

Here is the link to the entire Federal Reserve Press Release: