Federal Reserve boosts lending rates for first time under Obama - Washington Times

After one of the longest, most telegraphed windups in monetary policy history, the Federal Reserve on Wednesday delivered a small brushback pitch to the American economy, raising its key lending rate by a quarter of a percentage point for the first time since 2006.  The move ends an extraordinary run in which the central bank held its borrowing rate at essentially zero for seven years in an effort to pump life into the American economy after the onset of the global financial meltdown and the Great Recession from December 2007 to June 2009.  In addition to potentially raising the rates for consumers and businesses on trillions of dollars of car, home, student and commercial loans, the Fed move could play a major role in elections next year through its impact on the economic growth rate.

Back to News »