Federal Reserve Raises Benchmark Rate



In light of strong job growth and increased economic activity, the Federal Open Market Committee voted to raise the target range for federal funds rate a quarter of a percentage point with three more increases planned for 2017.

Voting for the FOMC monetary policy action were: Janet L. Yellen, chair; William C. Dudley, vice chairman; Lael Brainard; James Bullard; Stanley Fischer; Esther L. George; Loretta J. Mester; Jerome H. Powell; Eric Rosengren and Daniel K. Tarullo.


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