The Federal Funds Rate Hike
The New York Times, in an article by Binyamin Appelbaum entitled "Fed raises key interest rate for first time in almost a decade" discussed the pronouncement of the Federal Open Market Committee ﴾FOMC﴿ to increase the Federal Funds rate. The decision came exactly seven years after the financial crisis in 2008 when the FOMC reduced its rates to near‐ zero level to prevent the economy from collapsing. The article described the move as signaling the beginning of the end of the Fed 's stimulus program and highlighted the Fed statement that the Fed intends to increase the rates gradually ...