>> The Federal Reserve boosting interest rates by a quarter percentage point Wednesday in a sign. Policy makers are optimistic the economy will continue to grow. Fed Chief, Janet Yellen.>> The simple message is the economy's doing well. We have confidence in the robustness of the economy, and its resilience to shocks.
It's performed well over the last several years.>> The Fed's key overnight lending rate, now set at 0.75% to 1%, that's still historically low. Solid job growth, a modest pickup in consumer spending, and an increase in business investment, all reasons for the Fed's upbeat outlook. But that doesn't mean rates are growing rapidly higher says Reuters Fed watcher Ann Saphir.
>> Today, the Feds signaled that there's really no difference from what it had said before, that there will probably be two more rate hikes this year. The market is taking as very positive because they were afraid that there might be a more aggressive set of rate hikes to come.
It doesn't look that way.>> With the Fed believing the battle to getting the economy on solid footing is largely won, it now faces a new challenge, the risk of moving too slowly. President Trump's tax cut and spending plans are expected to give the economy even more of a bounce.
Something that could upend the Fed's plan to raise rates at a gradual pace. But for now, Wall Street thinks the Fed's got it right, stocks rising on the news.