JUST IN: Federal Reserve raises interest rates by 0.25%, the smallest increase in nearly a year.
, which have fallen back to 6.13% after having hit a high of 7.08% in November.
"The Fed is staring down the barrel of an upturn in economic activity," Neil Dutta, the head of U.S. economics at Renaissance Macro financial group, wrote in a recent note to clients. A 0.25% interest rate hike may end up proving too small, Dutta said — with the risk that the Fed will have to return to a stricter policy later."The Fed’s story only works if the economy is slowing down. Sorry, but I don’t see it.
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