Fox News: Fed to Raise Interest Rates

CASONE: "We were expecting this. And it is happening. The Fed is indeed going to be raising interest rates. There was a 98 percent probability we were going to see a rate rise at this meeting which we have not had in the last year. Right now you're seeing kind of a tepid mixed market reaction. But there's a few things to watch for in particular. The language. They're raising the rate because they’re basically saying that there’s a worry about inflation throughout the country. And another reason that we expected the Fed to raise interest rates, and that's exactly what they're doing, is because of what we’ve seen with the markets, the rally that we’ve had since Donald Trump was elected president-elect. As we can see right now, the Dow now down about four points. We're up a quarter percent, .25 percent, so right now a year ago, the range that the Fed gave us was .25 percent, .5 percent. Now the Fed is telling us that overnight lending rate that banks use is going to be .5 percent to .75 percent. Exactly as the markets expected."