Fed hikes interest rate, hits brakes on growing economy

[DonViejo]

By Ana Swanson March 15 at 2:01 PM

The Federal Reserve raised its benchmark interest rate by 25 basis points on Wednesday, launching into what's expected to be a more rapid series of increases that is intended to ward off inflation but will also raise costs for Americans who borrow money to finance mortgages, auto loans and credit card purchases.

Fed officials voted to raise the central bank’s key interest rate for overnight lending by a quarter point, from a range of 0.5 percent to 0.75 percent to a range of 0.75 percent to 1.0 percent. Bank officials announced the decision Wednesday afternoon following a two-day policy meeting in Washington.

The Fed has long planned on raising interest rates to a more normal level, after slashing them to nearly zero during the financial crisis and holding them at an ultra-low level for years to stimulate a sluggish economy. After some tentative steps, Wednesday hike signals a significant transition

“This is a sea change for them, to start talk about raising rates at a faster pace,” said Blu Putnam, CME Group’s chief economist.

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https://www.washingtonpost.com/news/wonk/wp/2017/03/15/fed-hikes-interest-rate-hits-brakes-on-growing-economy/?pushid=breaking-news_1489601207&tid=notifi_push_breaking-news&utm_term=.7ae284065a3f

[caroldansen]

1. That's another trick of the republicans to raise your credit rating so you feel

comfortable and confident to buy a house car or something else. Then they keep raising the interest rates so your payment each month doesn't cover the interest for that month let alone the principle. Then the bank forecloses on the house and the repo man takes back the car. Notice repu and repo.Only one letter difference. Don't fall for their tricks. Let's get the democrats back!