Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Here's what 9 Wall Street gurus think about the Fed's rate hike

Prashanth PerumalMar 16, 2017, 19:42 IST

New York Stock Exchange trader watches announcement by Fed Chair Janet Yellen in New YorkThomson Reuters

The Federal Reserve hiked interest rates on Wednesday, raising its target federal funds rate by 25 basis points to 0.75%-1.0%.

The rate hike is seen as a vote of confidence in the US economy, which has witnessed increasing inflation and job growth.

All of the members of the Federal Open Market Committee, except for Minneapolis Fed Governor Neel Kashkarivoted in favor of a rate hike.

Here's a roundup of reactions from Wall Street firms following Wednesday's decision.