U.S. FED TO HIKE INTEREST RATES TODAY FOR FIRST TIME IN NEARLY 10 YEARS

Dec 16, 2015

By Jane Brown

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The U.S. Federal Reserve wraps up its December meeting today and is widely expected to raise short-term interest rates for the first time in nearly a decade.

A rate hike would be a sign that top Fed experts think the American economy is now strong enough to be weaned from the extraordinary level of support provided by the U.S. central bank.

Asian stocks surged today after the Toronto stock market recovered some recent losses yesterday with a triple digit gain as the price of oil surged.

Our financial analyst Mary Anne Devenney of TD Wealth Management says in addition to the anticipated U.S. interest rate hike, there was new U.S. inflation data which is seen as positive.

“Consumer prices coming in flat in November, so if we take the so-called core prices over a one year period, it was about 2 percent, so that was kind of in line with their target,” Devenney explained.

The New York market also had a triple digit gain. European stocks are also higher today.

CIBC Deputy Chief Economist Benjamin Tal comments on the changing economic scene in the U.S. on Zoomer Radio’s Goldhawk Fights Back after the 11am news.

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