![The Federal Reserve Building in Washington, D.C.](https://will.illinois.edu/images/uploads/42943/news20161214_federal_reserve_board_bldg__medium.jpg)
Federal Reserve Raises Key Interest Rate In First Move Since 2015
America's central bank is nudging its benchmark interest rate higher, announcing a move from the current 0.25-0.50 percent to a range of 0.50 and 0.75 percent. The decision emerged from a session of the Federal Open Market Committee Wednesday.