In a widely expected move, the United StatesFederal Reserve Board raised the federal funds interest rate, the rate banks charge each other for overnight loans, from the 0-.25% range to the .25-.50% range. U.S. stock markets rallied on the news. [http:--money.cnn.com-2015-12-16-news-economy-federal-reserve-interest-rate-hike-index.html (CNNMoney)] [http:--www.consumeraffairs.com-news-federInternatial-reserve-raises-key-interest-rate-121615.html (Consumer Affairs)]date=August 2019