Federal Reserve Chair Janet Yellen discusses the Fed's interest rate hike following the FOMC's final meeting of 2015.

The Federal Reserve announced an increase in the Federal Funds interest rate for the first time in nearly a decade Wednesday, following a two-day Federal Open Market Committee member meeting. The target range is now 0.25% to 0.50% and will take effect on Thursday, Dec. 17, Federal Reserve Chair Janet Yellen said during a discussion following the FOMC meeting.

Yellen said the members of the FOMC will monitor the impact their actions may have on markets in the short term. This will give the Fed the necessary tools to use in the event their actions have an unforeseen negative impact on the economy, she added.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.