Economy Data: Economy and Rate Hike

economy data: Improving economy Since the summer, increasingly rosy economy data on the health of the world largest economy has helped sway reluctant policymakers towards raising rates, according to Deutsche Welle. They have overcome worries that an increase could interrupt a fledgling recovery amid directionless inflation and slack labor markets. The first rate hike in a year, and only the second in more than a decade, the 0.25-percent increase was a vote of confidence in the US economy, said Fed Chair Janet Yellen. At the beginning of this year, the Fed plans for what it described as a normalization of interest rates fell off track due to poor US growth and hiring at the end of 2015, and combined with fears of economic turbulence in China. Policymakers also provided clues as to their monetary policy in the coming year, in which the administration of President-elect Donald Trump settles into office. Moreover, Britain shock vote to exit the European Union in June dissuaded the Fed from raising rates later in 2016. (news.financializer.com). As reported in the news.