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President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
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The rule could defy a 2015 Flores Settlement Agreement court order that says families cannot be held in detention for more than 20 days.Politicsread more
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Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
In a second-round of tweets aimed at the U.S. central bank, the president asked, "WHERE IS THE FEDERAL RESERVE?"Marketsread more
Equity markets in the U.S. and Asia rose after the Federal Reserve raised its target federal funds rate on Wednesday to a range of 0.25 to 0.5 percent, the first increase since June 29, 2006.
In a statement, the FOMC said it will be some time before the central bank starts unwinding its $4.5 trillion balance sheet and insisted that the pace of increases will be gradual and dependent on the quality of economic data. The long-anticipated move indicates that the economy has finally developed enough upward momentum to withstand higher interest rates, traders said.
Wall Street had widely expected the Fed to raise the rate from its the long-held near-zero range, a move that will have wide implications for global markets and interest rates.
See below for CNBC's live coverage:
Correction: A quote about the pending rate announcement by David Kelly was misattributed in an earlier version.