|Jeff Cox – CNBC
Fed Hikes Rates and Raises GDP Forecast Again
Summary: The Fed approved an expected quarter-point hike that puts the new funds rate at a target of 1.5% to 1.75%. Fed statements about the rate increase mention a strong economy as the prerequisite. Moving forward, inflationary expectations and growth performance will determine the nature of the next hikes. Currently, the baseline number of hikes is still 3 for 2018, but many economists feel a 4th is possible.