Federal Reserve

Federal Reserve Raises Interest Rates for First Time in Nearly a Decade

(ABC News) — The Federal Open Market Committee (FOMC) announced today that it was raising short-term rates by a quarter point — the first increase in nine years. The unanimous decision had been widely expected by investors after Federal Reserveofficials, including Chairwoman Janet Yellen, had hinted that the central bank was ready to change direction after keeping interest rates between…