Fed Raises Interest Rates By Half Percentage Point

The Federal Reserve raised interest rates by half a percentage point at the conclusion of its two-day meeting Wednesday, in a move that represents a shrinking of the magnitude of rate hikes after Tuesday CPI data showing inflation had easy to 7.1% in the 12 months to November.  While the Federal Reserve Chairman was still speaking as of 2:22 p.m. EST, with investors paying close attention to any indications about future Fed policy, CNBC cited NatWest strategist John Briggs as calling the speech “hawkish” so far, referring to the…