From Bob Ciura: It’s official: The Federal Reserve raised interest rates at its March meeting. On March 15, the U.S. central bank announced its second interest rate hike in the past three months.
The Fed funds rate, which is the overnight bank-to-bank lending rate that is widely viewed as a benchmark for interest rates more broadly, will rise to a target range of 0.75% to 1%.
In addition, the Fed reiterated its intention to raise rates as many as three times in 2017.