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

Business InsiderMar 19, 2017, 18:11 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 a range of 0.75% to 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 the Minneapolis Fed governor, Neel Kashkari, voted in favor of a rate hike.

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