The Janet Yellen Era Starts Here

After seven long years, the era of zero-level, short-term U.S. interest rates is at an end, at least for now. In raising the federal funds rate by a quarter of a percentage point on Wednesday, Janet Yellen and her colleagues at the Federal Reserve signaled that, in their view, the U.S. economy, which has been hooked up to a monetary life-support machine since December, 2008, is now strong enough to withstand slightly higher borrowing costs.

See the rest of the story at newyorker.com

Related:
Four Charts That Defined the World in 2015
What Hillary Clinton Gets (and Bernie Sanders Doesn’t) About Wall Street
The New Job Figures and Janet Yellen’s Big Decision