Federal Reserve's interest rate hike 'will benefit eurozone and global economy'
- 8 years ago
It’s seen as a hugely important step on the road to global economic recovery.
The Federal Reserve’s first interest rate rise since the financial crisis struck is designed to send a message that the US economy at least is getting back to normal.
The hike is extremely modest: rock bottom interest rates have been raised to between 0.25 and 0.5 percent. But the tightening of monetary policy is deeply symbolic, a sign that the economy’s prolonged period in intensive care is over.
“This action marks the end of an extraordinary seven-year period during which the federal funds rate was held near zero to support the recovery of the economy from the worst financial crisis and recession since the Great Depression,” Federal Reserve Chair Janet Yellen told a news conference shortly after the announcement.
What began as a banking crisis spread to all parts of the economy and all parts of the world. Easy credit and over-borrowing, an explosion of debt, lax controls especially on what a Senate
The Federal Reserve’s first interest rate rise since the financial crisis struck is designed to send a message that the US economy at least is getting back to normal.
The hike is extremely modest: rock bottom interest rates have been raised to between 0.25 and 0.5 percent. But the tightening of monetary policy is deeply symbolic, a sign that the economy’s prolonged period in intensive care is over.
“This action marks the end of an extraordinary seven-year period during which the federal funds rate was held near zero to support the recovery of the economy from the worst financial crisis and recession since the Great Depression,” Federal Reserve Chair Janet Yellen told a news conference shortly after the announcement.
What began as a banking crisis spread to all parts of the economy and all parts of the world. Easy credit and over-borrowing, an explosion of debt, lax controls especially on what a Senate