This hike, which was widely expected, is the Fed's second of 2018, and the central bank signaled it is likely to do two more increases by the end of this year. The economy is very strong, the labor market is strong, growth is strong. That puts the Fed on track for four rate hikes total in 2018, something the Fed hasn't done since 2006. But if the Fed raises the rate too slowly, inflation could jump, an equally alarming scenario for markets and businesses. Interest rates are now at their highest level since 2008, although they remain lower than the historical average.

Source: Washington Post June 13, 2018 18:04 UTC