The Federal Reserve Announces Interest Rate Increase

The Federal Reserve announced today that it will raise the federal funds rate .25 percent to a range between 2.0 percent and 2.25 percent. This is the eighth time the Fed has raised short-term interest rates since December 2015 and the third time this year. The Fed’s projections indicate that they will likely raise rates one more time this year at the December meeting and three times in 2019.