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The Federal Reserve on Wednesday announced it decided to raise interest rates, and steepened its outlook for hikes in 2019 and 2020.
After a two-day meeting, the Federal Open Market Committee voted to increase its benchmark Fed funds rate by 25 basis points to a range of 1.50% to 1.75%. It was the sixth rate increase since late-2015, as America's central bank backed further away from emergency policies that helped heal the economy after the Great Recession a decade ago.
Here's the latest:
In other news, a feature on Robinhood's new web platform raises questions about the strength of its user base. Wall Street’s biggest bull wants to dispel a major misconception about the stock market. And the stock market is doing something not seen since the financial crisis — and it means huge opportunities ahead.
And here's the latest in Facebook news:- A bubble you didn't even know existed could be bursting
- Some Facebook employees are angry that Mark Zuckerberg has ghosted in the middle of this scandal
- Wall Street analysts have dramatically changed their tone on Facebook, and are now speculating about "fundamental risk" and a "negative feedback loop"
- The #DeleteFacebook movement has reached a fever pitch, as former Facebook insiders turn on the company
- JPMorgan says it's found the perfect trade for worried Facebook investors
- As much as $5 billion in Facebook ad revenue is 'at risk' from the Cambridge Analytica crisis
- The impact from Facebook’s privacy scandal looks more like the Equifax breach than the BP oil spill
- Facebook can still track you even if you delete your account — here’s how to stop it
- MuleSoft's plan to be acquired by Salesforce could make founder Ross Mason a $300 million man
- The video game that's turning teens into millionaires has hired a CFO as it considers an IPO
- Pandora is buying a startup that's trying to become the Google of audio advertising
- An analyst breaks down how The Weinstein Company will fare at auction now that potential buyers have gotten a chance to "look inside the car"
NOW WATCH: Trade war fears are escalating — here's who has the most to lose
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