The long-awaited interest rate hike by the Federal Reserve was finally announced today.  The Fed announced that it would raise rates by a quarter of a percentage point, up from close to zero. While the increase was small, the move was significant. The last interest rate hike came in mid-2006. The Fed’s decision to lower rates and keep them close to zero for so long was unprecedented. But it made sense. Since 2007, when the country entered a financial crisis, the Fed kept moving rates lower...
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