What you need to know on Wall Street today

The Federal Reserve on Wednesday announced it decided to raise interest rates, and steepened its outlook for hikes in 2019 and 2020.

After a two-day meeting, the Federal Open Market Committee voted to increase its benchmark Fed funds rate by 25 basis points to a range of 1.50% to 1.75%. It was the sixth rate increase since late-2015, as America's central bank backed further away from emergency policies that helped heal the economy after the Great Recession a decade ago.

Here's the latest:

• Fed raises interest rates, signals 2 more hikes in 2018
• Here's the new Fed dot plot

In other news, a feature on Robinhood's new web platform raises questions about the strength of its user base. Wall Street's biggest bull wants to dispel a major misconception about the stock market. And the stock market is doing something not seen since the financial crisis - and it means huge opportunities ahead.