Fed Raises Interest by 25 Basis Points

 March 16, 2017

The US Federal Reserve on Wednesday raised interest rates for the second time in three months, a move spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank’s target.

The decision to lift the target overnight interest rate 25 basis points to a range of 0.75 percent to 1 percent marked one of the Fed’s most convincing steps yet in the effort to return monetary policy to a more normal footing.