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Fed Raises Rates After Seven Years at Zero, Expects 'Gradual' Tightening Path

The Federal Reserve said it would raise its benchmark interest rate from near zero for the first time since December 2008 and emphasized it will likely lift it gradually thereafter in a test of the economy's capacity to stand on its own with less support from super-easy monetary policy.

Fed officials said they would move up the rate by a quarter percentage point, to between 0.25% and 0.5%, and would adjust their strategy as they see how the economy performs. At these low rates, they added, policy remains accommodative.

http://www.wsj.com/articles/fed-raises-rates-after-seven-years-at-zero-expects-gradual-tightening-path-1450292616?mod=djemalertMARKET