interest rate

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has greed hit your credit cards yet stand up to them and cancel them out

 

[waltky]

Fed raises key interest rate 25 points...

US raises key interest rate by 0.25% on strengthening economy
Wed, 14 Dec 2016 - The US Federal Reserve raises its benchmark interest rate, only the second increase in a decade.

The Federal Open Markets Committee (FOMC) voted unanimously to raise the key rate to a range of 0.5% to 0.75%, citing a stronger US economy. But the central bank said it expected the economy to need only "gradual" increases in the short term. Fed chairwoman Janet Yellen said the economic outlook was "highly uncertain" and the rise was only a "modest shift". However, the new Donald Trump administration could mean rates having to rise at a faster pace next year, she said. The president-elect has promised policies to boost growth through tax cuts, spending and deregulation.

'Cloud of uncertainty'

Ms Yellen said it was wrong to speculate on Trump's proposed policies without more details, but added that some members of the FOMC have factored in to their rate-rise forecasts an increase in spending. The FOMC now expects three rate rises next year rather than the two that were predicted in September. Ms Yellen told the press conference: "We are operating under a cloud of uncertainty... All the FOMC participants recognise that there is considerable uncertainty about how economic policy may change and what effect they may have on the economy."

Janet Yellen arrives for press conference​

Also, she declined to be drawn on Mr Trump's public comments about the Fed, and his use of tweets to announce policy and criticise companies. "I'm a strong believer in the independence of the Fed," she told journalists. "I am not going to offer the incoming president advice." The interest rate move had been widely expected, and followed the last increase a year ago.

Reflection of confidence