WASHINGTON The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday, signalling faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis.
The U.S. central bank's policy-setting committee raised the range of its benchmark interest rate by a quarter of a percentage point to between 0.25 percent and 0.50 percent, ending a lengthy debate about whether the economy was strong enough to withstand higher borrowing costs.
13:09 JCPenney shuttering up to 140 stores as sales weaken, more sluggish growth seen ahead15
00:06 Some Fed Officials Support Moving Faster to Raise Interest Rate17
18:52 Powell, keeping cards close, says Fed to gradually hike rates13
13:57 Wall Street set to open flat ahead of Fed minutes15