Rates: Martin Crutsinger and Borrowing Rates

rates: The Fed move will mean modestly higher rates on some loans, according to The Toronto Star. Wednesday action signalled the Fed belief that the U.S. economy has improved over the past year after a rough start to 2016 and can withstand slightly higher borrowing rates. Reuters By Martin Crutsinger Associated Press Wed., Dec. 14, 2016 WASHINGTON The Federal Reserve has raised a key interest rate in response to a strengthening U.S. economy and expectations of higher inflation, and it foresees three more rate hikes in 2017. The central bank announced in a statement after its latest policy meeting that it raising its benchmark rate by a quarter-point to a still-low range of 0.5 per cent to 0.75 per cent. The Fed move, only the second rate hike in the past decade, came on a unanimous 10-0 vote. The Fed last raised the rate last December from a record low near zero set during the 2008 financial crisis. (news.financializer.com). As reported in the news.