Federal Reserve Hikes Interest Rates For The First Time Since 2006
Contrast this with the the period from May 2004 to June 2006 — 18 rate hikes in all.
The wait is over. The Federal Reserve announced Wednesday that it is increasing the target for short term interest rates to a range of 0.25% to 0.50% from a range of 0% to 0.25%. The move, while small, is historically significant. The Fed has held interest rates near zero for seven years and has not raised them since 2006.