Federal Reserve Hikes Interest Rate and The Dollar Surges

Washington, DC, December 15, 2016—The Federal Reserve increased its key interest rate by 0.25% on December 14, signifying its confidence in the strength of the U.S. economy. This is only the second interest rate hike this decade.

As a result, the U.S. dollar has surged. “The U.S. dollar index is up by 0.8% at 103.01 as of 7:21 a.m. ET—an almost 14-year high,” reports Business Insider.