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U.S. Fed Expected to Raise Rates for First Time in a Year

Attention Wednesday will revolve around what Fed official say about the pace of future rate increases against the backdrop of Donald Trump's election
By The News · 14 of December 2016 08:43:31
Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, Thursday, Nov. 17, 2016, before the Joint Economic Committee. Yellen sketched a picture of an improving U.S. economy and said "the case for an increase" in interest rates has strengthened. The Fed is widely expected to raise rates when it meets in mid-December. (AP Photo/Susan Walsh), photo: AP/Susan Walsh

The U.S. Federal Reserve is expected to raise its key interest rate for the first time in a year when its policy meeting ends Wednesday.

The move would lift the rate by a quarter point to a range between 0.5 percent and 0.75 percent, likely nudging up the cost of some consumer and business loans. The Fed last increased rates in December a year ago, when it hiked its benchmark rate from a record low set at the depths of the 2008 financial crisis.

Attention Wednesday will revolve around what Fed official say about the pace of future rate increases against the backdrop of Donald Trump’s election. How the Fed manages its policies might not be clear even after it issues a statement and Chair Janet Yellen holds a news conference.