Fed Raises Rates

June 14, 2017

On Wednesday, June 14, 2017, the Federal Reserve raised its benchmark federal-funds rate by a quarter percentage point to between 1% and 1.25%.  This marks the Fed’s third increase in 18 months.  According to the Fed’s statement, its intent is to raise the cost of borrowing for consumers and businesses to ensure the economy does not experience a bout of inflation.