The Federal Reserve is set to lift interest rates for the first time in over nine years on Wednesday at 2 p.m. Eastern.
The announcement, scheduled to come out of what’s called the Federal Open Market Committee, will be followed by a news conference with Federal Reserve Chairwoman Janet Yellen, who will speak at 2:30 p.m.
The Fed has kept interest rates in a band between zero and 0.25% since December 2008, when it lowered rates in the midst of the Great Recession.
Now that the U.S. economy has been growing steadily for years, the central bank is poised to begin lifting rates.
(Source : MarketWatch)
