What Does The Rate Increase Mean?
Since 2006, Federal Reserve interest rates had been floating around zero, but yesterday it was announced that there would be an increase of 25 basis points. Janet Yellen, Chair of the Federal Reserve, went on to promise a gradual rise in interest rates with a target of 1.5% by the middle of 2017. It was an increase which has been expected for some time, and had become more or less inevitable. If rates had stayed at zero heading into the New Year, in all likelihood the market