After a Smooth Rate Liftoff, the Hard Work Starts for the Fed
Janet Yellen’s careful signaling ensured a strong market reaction to Wednesday’s hike, but the road ahead contains plenty of potential pitfalls.
Tom Buerkle
December 17, 2025
Janet Yellen, chair of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, Dec. 16, 2015. The Federal Reserve raised interest rates for the first time in almost a decade in a widely telegraphed move while signaling that the pace of subsequent increases will be gradual and in line with previous projections. Photographer: Andrew Harrer/Bloomberg *** Local Caption *** Janet Yellen
Andrew Harrer/Bloomberg
