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Part 1
Part 2
The FED is Has cautiously increased the Federal Funds Rate. The Federal Funds Rate has been kept very, very, very low for a very long time and the FED made a very small increase. The question now is will they push the rate up a bit more. We don't know but you can check on the thinking via posted information each month by the FOMC.
https://www.federalreserve.gov/newsevents/lectures/origins-and-mission.htm
https://www.federalreserve.gov/faqs/about-the-fed.htm
https://www.federalreserve.gov/monetarypolicy/fomcpresconf20160615.htm
https://www.federalreserve.gov/newsevents/speech/yellen20160826a.htm
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