Fed announces historic rate increase, first since 2006

GMT 20:50 2015 Wednesday ,16 December

Arab Today, arab today Fed announces historic rate increase, first since 2006

Federal Reserve
Washington - Arab Today

The Federal Reserve announced Wednesday its first interest rate increase in more than nine years in a landmark move signaling the US has finally moved beyond the 2008 crisis.

The Fed raised the benchmark federal funds rate, locked near zero since the Great Recession, by a quarter point to 0.25-0.50 percent, saying the economy is growing at a moderate pace and should accelerate next year.

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