FOMC signals hawkish outlook as it hikes

Federal Reserve chair Janet Yellen
Janet Yellen: past year has seen "solid progress"

The Federal Open Market Committee (FOMC) hiked the federal funds rate today (December 14), only the second such move since rates hit rock bottom after the 2008 crisis.

After a year of many delays - when it hiked almost exactly a year ago, the Fed's median projections implied rates would hit 1.4% in 2016 - the FOMC once again voted to raise the policy rate 25 basis points, in a unanimous decision. The target range for the federal funds rate is now 0.5-0.75%.

At a press conference, Fed chair Janet

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account