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 Fed is thinking seriously about raising its benchmark interest rate at its next meeting, in June. The unusually frank bulletin was delivered in the official account of the Fedâs April meeting, which said explicitly that most officials thought âit likely would be appropriateâ to raise rates in June if the economy shows clear signs of a rebound from a weak winter.