interest rate

Federal Reserve Raises Interest Rates 1/4 Point

The Federal Reserve announced Wednesday afternoon, less than a week before Christmas, that the Fed will raise interest rates a quarter of a point, from 2.25 to 2.50 percent. 

Federal Reserve Board Chairman Jerome Powell speaks during a news conference on September 26, 2018 in Washington, DC. The Fed raised short-term interest rates by a quarter percentage point as expected today, with market watchers expecting one more increase this year and three more in 2019. (Photo by Mark Wilson/Getty …