Booming Economy Prompting Hawkish Fed Policy; Global Financial Markets May Complicate Future Action

Fed raises benchmark interest rate; additional increases anticipated. The Federal Reserve increased the federal funds rate by 25 basis points, lifting the overnight lending rate to a range of 1.75 percent to 2 percent. Citing stronger consumer spending, and a highly optimistic business community, the Fed laid out the potential for two additional rate hikes in 2018. The Fed noted strong job growth, accommodative fiscal policy and above-target inflation as reasons for continuing to normalize monetary policy over the coming months.   ...more

RSK: If you are a seller this is good news as the increases are low but steady. Asking prices will remain strong.