Orbit comes from the Latin orbita, âcourse,â or âtrack.â The verb orbit is the act of revolving around another object, usually on a circular or elliptical course. Many planets, moons, stars, meteors spacecraft and other objects in outer space orbit around each other. Electrons also orbit around the nucleus of an atom.
Fed raises interest rates. America's first interest rate hike in nearly a decade is here. The Federal Reserve raised its key interest rate on Wednesday from a range of 0% to 0.25% to a range of 0.25% to 0.5%. The rate hike is a small one, but it will affect millions of Americans, including investors, home buyers and savers.
The Federal Open Market Committee meeting was significant in that the Fed now appears committed to a path of steady rate hikes. It will probably lift short-term rates by 0.25% two more times in 2017, first at its June 14 meeting and next on either September 20 or December 13.