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On Wednesday, March 15, 2017 the US Federal Reserve increased interest rates by a quarter percentage point to a range between 0.75%-1%. They also indicated that they will raise rates two more times in 2017. Janet Yellen, Chairwoman of the US Federal Reserve, said that the Feds decided to raise rates now because “the simple message is the economy’s doing well.” Another reason given for the increase in rates is that inflation has been moving close to the Fed’s 2% target. We expect interest rates to slowly but steadily increase in the United States over the next two years.