Fed raises rates at March meeting
Source: CNBC
For the second time in three months, the Federal Reserve increased its benchmark interest rate a quarter point amid rising confidence that the economy is poised for more robust growth.
The move, widely anticipated by financial markets, takes the overnight funds rate to a target range of 0.75 percent to 1 percent and sets the Fed on a likely path of regular hikes ahead.
Despite a well-telegraphed move, news of the rate hike pushed government bond yields higher while major averages in the stock market pulled back slightly.
With a higher rate already baked into the market, investors were looking for clues about just how aggressive the central bank will be down the road. The market currently expects the Fed to hike two more times this year, which was in line with the bank's projections from December 2016.
Read more: http://www.cnbc.com/2017/03/15/fed-raises-rates-at-march-meeting.html
