Daily News: December 15, 2016

Federal Reserve Raises Benchmark Rate


In light of strong job growth and increased economic activity, the Federal Open Market Committee voted to raise the target range for federal funds rate a quarter of a percentage point with three more increases planned for 2017.

Voting for the FOMC monetary policy action were: Janet L. Yellen, chair; William C. Dudley, vice chairman; Lael Brainard; James Bullard; Stanley Fischer; Esther L. George; Loretta J. Mester; Jerome H. Powell; Eric Rosengren and Daniel K. Tarullo.