The Federal Open Market Committee (FOMC) announced on Wednesday that it would leave its federal funds rate unchanged; the Fed increased the rate to 0.50% to 0.75% at its last meeting in December and predictions have called for more aggressive increases in 2017 however it seems they may be later in the year; Janet Yellen speaks before Congress in February and the market is currently reporting an 18% probability of an increase in March at the FOMC's next meeting. Source
The Federal Reserve increased its federal funds rate by 0.25% following its March Federal Open Market Committee meeting; the rate is now at 0.75% to 1.00%; the Fed also alluded to plans for two more rate increases in 2017. Source