It was, once again, one of the worst kept secrets in economic history.
Just like it did a year ago, the Federal Reserve on Wednesday sent its key short-term interest rate up by a quarter of a percentage point. In the days before the announcement, traders had put the odds of a rate hike at 100%, according to Bloomberg data on futures markets.
It was only the second time the Fed has increased rates since the U.S. central bank dropped its key lending level all the way down to zero during the financial crisis.
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