US Fed raises interest rates by 0.25%; top takeaways from the FOMC meet

As expected, the US Federal Reserve raised short-term interest rates by a quarter percentage point or 0.25 per cent in its latest policy meet, that concluded Wednesday. It was the third rate hike by the US Fed this year and the eighth such move since December 2015.

Here're the key takeaways from the latest FOMC meet -

Rates move up

The Federal Open Market Committee (FOMC) increased the interest rates by 25 basis points, thus setting a new range of 2 per cent to 2.25 per cent. The move reflected an upbeat assessment of the economy that was identical to