Federal Reserve Raises Rates For The First Time Since 2006
It has been nearly a decade since The Federal Reserve has raised rates. But this has now changed since the key interest rate went up to 0.25% on Wednesday.
This decision to raise key interest rates has become a big moment for the U.S. economy proving that it has slowly shown signs of recovering from the global financial crisis.
U.S. stocks rally at open. Dow climbs 133 points in anticipation of Federal Reserve's first rate hike in years. https://t.co/A9OlUXl3FI
— CNNMoney (@CNNMoney) December 16, 2015
The decision would most likely show good signs for the economy. Proving the central bank is more confident than ever before by raising the rates on Wednesday, by 25 basis points which is now 0.25%, according to CNN money.
But what exactly does this mean for U.S. travelers? Well, CNN Money reports “Higher rates will make the dollar stronger. A strong dollar is a nice perk for U.S. travelers.”
And we all know what that means, it’s time for you to ring in the New Year with new exotic destinations and experience the amazing benefits of enjoying more value for your dollar abroad.
Now available: video of today's #FOMC press conference: https://t.co/U7PYW4JcXi
— Federal Reserve (@federalreserve) December 16, 2015
Parts of information to this article are from money.cnn.com by Patrick Gillespie
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