WASHINGTON, DC–As widely expected by the market, theFederal Reserve raised the federal funds rate to a rangeof 1.25% to 1.5%. It is the third hike this year but relativelyspeaking interest rates remain historically low.
Again, as expected, the reasons cited for the increase centeredaround the solid economy. “The labor market has continued tostrengthen and … economic activity has been rising at a solidrate,” the Federal Open Market Committee said in astatement.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
