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The Federal Reserve on Wednesday decided to raise its benchmark interest rate, as expected, and raised its expectation for the number of hikes in 2017.

This move, which markets saw a 100% probability of, will increase the corridor of the Federal Funds rate by 25 basis points to a range of 0.50-0.75%.

By continuing to lift rates from near-zero, the Fed is ending the era of unprecedented policy, and giving the economy room to advance on its own. A higher fed funds rate will lift rates on things like credit cards and mortgages, and test the extent to which consumer spending read more >>>

Source:: BusinessInsider.Com

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