Federal Reserve of US increased interest rate by 0.25% for the first time since 2006

• The Federal Reserve System, the central banking system of the USA, on 16 December 2015 increased interest rate by 0.25 percent. A decision in this regard was approved by the Board of Governors of the Federal Reserve System chaired by Janet L Yellen.
• With this, the interest rates in the US are now in the range of 0.25 – 0.50 percent as compared to zero to 0.25 percent range earlier. This is the first rate increase since 2006.