Quantcast
BREAKING: Feds Raise Interest Rates for the First Time in a Decade

BREAKING: Feds Raise Interest Rates for the First Time in a Decade

by Patrick Gillespie for CNN Money

America's first interest rate hike in nearly a decade is here.

The Federal Reserve raised its key interest rate on Wednesday from a range of 0% to 0.25% to a range of 0.25% to 0.5%.

The rate hike is a small one, but it will affect millions of Americans, including investors, home buyers and savers. Savers will eventually see a little more interest on their deposits at the bank, and mortgage rates will gradually rise.

The move was widely expected. It is a sign of how much the economy has healed since the Great Recession. The central bank believes the U.S. economy is strong now and no longer needs crutches.

The Fed put interest rates near zero during the financial crisis in December 2008 to help stimulate the economy and boost the collapsed housing market.

Read more...

ALERT! “Assault Weapons Ban” Introduced in Congress Today

ALERT! “Assault Weapons Ban” Introduced in Congress Today

Obama to visit San Bernardino on Friday on his way to Hawaii

Obama to visit San Bernardino on Friday on his way to Hawaii