Federal Reserve raises key interest rate for first time in nearly a decade - The Washington Post

Federal Reserve raises key interest rate for first time in nearly a decade - The Washington Post:



"The unanimous decision will nudge the central bank's benchmark interest rate up from near zero by a quarter of one percent to a range of 0.25 to 0.5 percent. The move is small, but it amounts to a vote of confidence that the American economy -- dogged by volatile oil prices, a slowdown in China and weak global growth -- will stand resilient. But the Fed also pledged to wean the nation off its stimulus slowly, an acknowledgement that further progress is not guaranteed and that the central bank is operating in uncharted territory.



 "I feel confident about the fundamentals," Fed Chair Janet Yellen told reporters after the vote. "We have been concerned  about the risks from the global economy. Those risks persist, but the U.S. economy has shown considerable strength.""





Keywords - Rates raise Yellen



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