MONEY

Watch: Fed Chair Janet Yellen makes interest rate announcement

USA TODAY

The Federal Reserve raised its benchmark interest rate today. The Fed had been signaled for many weeks that it had plans to hoist its key rate by a quarter percentage point.

Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, Thursday, Nov. 17, 2016, before the Joint Economic Committee. Yellen sketched a picture of an improving U.S. economy and said "the case for an increase" in interest rates has strengthened. The Fed is widely expected to raise rates when it meets in mid-December. (AP Photo/Susan Walsh)

Janet Yellen, chair of the U.S. Federal Reserve System, made the announcement on Wednesday.

You can watch the full event in the player above.