We Have Lift-Off at the US Federal Reserve
December 17, 2015
After years of speculation and waffling, the US Federal Reserve has finally achieved lift-off, hiking its key interest rate by 0.25% – the first such increase since June 2006.
The Fed’s announcement came as no surprise for market watchers, with well over 80% economists polled by Bloomberg predicting the end of an unprecedented era of accommodating central bank policy in the United States. In fact, a similar consensus had emerged in the lead-up to the Fed’s last meeting in late October, a meeting that did not produce the much-expected lift-off. There’s no doubt about it: this move has been a long time coming.