Why the Fed raised US rates and what it’s likely to mean
WASHINGTON — Well, finally: To the surprise of almost no one, Federal Reserve policymakers decided Wednesday to raise short-term U.S. interest rates for the first time in a year.
Before the announcement, investors had pegged the chances of a rate hike Wednesday at 92.9 percent, according to the CME Group.
The stock market viewed the news as anticlimactic and barely budged.
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WHAT DID THE FED DO?