Janet Yellen Talks Fed Rate Hike

The Federal Reserve Board Chair says Fed will end 7-year interest rate freeze.
1:42 | 12/16/15

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Transcript for Janet Yellen Talks Fed Rate Hike
The Federal Open Market Committee decided to raise the target range for the federal funds three. By one quarter percentage point free it to one quarter to one half percent. This action marks the end of an extraordinary sit in year period. During which the federal funds rate we spilled. Near its Euro to support the recovery of the economy. From the worst financial crisis in recession since the Great Depression. So I think the first the first thing Mitt. American should realize. Is that this kid's decision. Today. Reflects. Our confidence. In the US economy. It used a very small move. And it will be reflected in some changes in borrowing rates on longer term interest rates on the loans. That are linked to launch her term interest rates. Are unlikely to move to move very much. Some. For example some corporate loans are linked to the primary witches. A likely to move up with the Fed Funds rate and those interest rates will lecture us they're arch some. Consumer borrowing rates acting credit card rates that are linked to short term rates that might move up slightly. We recognize. That inflation is will below are 2% goal. The entire committee is committed to achieving our 2%. Inflation objective over to medium term.

This transcript has been automatically generated and may not be 100% accurate.

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