In a unanimous decision, the Federal Open Market Committee (FOMC), lifted the Fed Funds Rate by 25 basis points to a range between 0.25 and 0.50%. Before Wednesday's decision, the FOMC had held short-term interest rates at near zero levels for 56 consecutive meetings, a streak which dated back to December, 2008. The Federal Funds Rate is the rate offered by institutions on overnight, interbank loans held at the Fed