Fed hikes rates in sign of economic confidence

The incremental hike marks the third such hike in 2017 and sets the stage for what will likely be three or four adjustments in 2018

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Sticking to a script that economists and real estate analysts had long anticipated, outgoing Federal Reserve Chairwoman Janet Yellen Thursday announced a modest benchmark interest rate hike to 1.25 percent-1.50 percent, a move widely perceived as a reflection of confidence in the economy. This is the third such hike in 2017 and sets the stage for what will likely be three or four adjustments in 2018.