Raising Interest Rates in Uncharted Territory

By Chloe WhiteakerChloe Whiteaker, Jeremy Scott DiamondJeremy Scott Diamond and Jeanna SmialekJeanna Smialek
Updated December 14, 2016

The U.S. Federal Reserve voted Wednesday to lift interest rates for the first time this year and the second time since 2006. Economic conditions barely resemble the last time the Fed made the second hike in its cycle, leaving policy makers without comparable precedent to guide their way as they try to determine a path forward for stable economic growth.

Federal funds target rate