Fed Raises Interest Rates for Third Time Since Financial Crisis -
By BINYAMIN APPELBAUMMARCH 15, 2017
Janet Yellen, the Federal Reserve chairwoman, announced the board’s decision on interest rates.
The Federal Reserve delivered the widely expected increase in its benchmark interest rate on Wednesday,
and said the domestic economy remained on a path of slow and steady growth.
We think we’re moving on the same course we’ve been on.”
It is the first time in recent years that the Fed’s forecasts have moved in the direction of tightening, a change in tune
that parallels the Fed’s confident tone and its decision to raise rates on Wednesday.
The Fed continues to forecast a Goldilocks economy, with the unemployment rate remaining at 4.5 percent
and inflation around 2 percent for the next three years.
In a statement after a two-day meeting of its policy-making committee, the Fed said
that the United States economy continued to chug along, expanding at a “moderate pace.” Employers are hiring, consumers are spending and businesses — the laggards in recent months — are starting to spend a little more, too.
The Federal Reserve is raising interest rates for the third time since the financial crisis after being at near zero.
The Fed’s preferred measure rose 1.9 percent over the 12 months ending in January, close to the Fed’s 2 percent annual target.
A new round of economic projections from the Fed’s senior officials was nearly unchanged from the last round of projections in December.