Federal Reserve announces first rise in US interest rates since 2006
by Dominic Rushe in New York and Jana Kasperkevic in from on (#XXG4)
US central bank signals end to seven years of a monetary policy that began amid the worst financial crisis since the Great Depression
The Federal Reserve raised interest rates on Wednesday, ending an extraordinary period of government intervention in the financial markets that started at the height of the recession.
After holding its benchmark federal-funds rate near zero for seven years, the Fed increased rates a quarter-percentage point. The move signals the end of a monetary policy that began amid the worst financial crisis since the Great Depression.
Related: Federal Reserve hikes interest rates seven years after financial crisis - business live
Related: Interest rates rise: what does the Fed decision mean for you?
Continue reading...