Fed likely to raise interest rates this month

by Ryan Smith02 Dec 2015
The chairwoman of the Federal Reserve said today that conditions were looking favorable for the Fed to start raising its benchmark interest rate this month.

“The economy has come a long way toward the (Federal Open Market Committee’s) objectives of maximum employment and price stability,” Yellen said during a speech to the Economic Club of Washington.

Yellen said that when the Fed decided to raise rates, it would be “a testament, also, to how far our economy has come in recovering from the effects of the financial crisis and the Great Recession,” according to a New York Times report.

“It is a day I expect we are all looking forward to,” she said.

Yellen stressed that the Fed expected to raise rates slowly because of the still-weak economy, the Times reported. And she said that a final decision wouldn’t be made until the Fed’s policy-making committee met on Dec. 15 and 16.

But it appears that Fed officials have decided that the economy is strong enough to raise the benchmark rate, which has been held near zero for nearly seven years. Most investors and analysts predict that the Fed will raise the rate to a range of 0.25% to 0.5%, the Times reported.


  • by Viva la Revolucion | 12/2/2015 2:29:52 PM

    Because they believe the fake employment numbers?? LOL

  • by Anonymous | 12/2/2015 2:30:24 PM

    This just in - Fed likely to derail economic recovery later this month. Stay tuned while we report the events live, as they unfold. Breaking news at 5. Watch as credit card rates and lending rates increase, sending struggling families back into their own recessions. When asked for comment, Fed officials were stunned. "We just don't get it" commented one official after his morning workout on the tennis court at his country club. "We thought that most Americans had already paid off all of their debts and mortgages, and were debt free by now." When the official was reminded by this author that most citizens are struggling to make ends meet, he simply shrugged his shoulders and replied "That's a shame. We didn't think a quarter point would matter" as he climbed behind the wheel of his new Mercedes and left. That is indeed a shame. Thanks Federal Reserve.

  • by Patrick | 12/3/2015 7:26:35 PM

    It is beyond belief that the Federal Reserve would use the small boost to the economy that the Holiday season brings, as an excuse to raise interest rates and send our economy into the toilet again. As pertains to employment, the holiday season always brings a boost to employment, for about 30 days. How can a person with any common sense attribute this to a healthy economy. The Federal Reserve needs to have its powers assigned to a group that represents what best for American Families and not what is best for special interest groups.
    I have had enough of the Federal Reserve.


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