Drama but little trauma in Fed's interest rate hike

December 17, 2015 5:26 AM

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Capping months of anxious anticipation and gigabytes of global speculation, the Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of a percentage point, its first hike in nearly a decade.

In Orange County, as in the nation as a whole, the rate nudge was seen as a long-awaited expression of the Fed’s confidence in the U.S. economy following a catastrophic recession and a weak recovery.

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