RAISED
The Federal Reserve’s benchmark interest rate, for only the second time since the 2008 financial crisis. The decision, which hikes the rate to a range from 0.5% to 0.75%, signals the Fed’s confidence that the U.S. economy will continue to grow. The Federal Reserve said it expects to raise rates three more times in 2017.
IMPLEMENTED
A law legalizing recreational marijuana in Massachusetts, the first state on the Eastern seaboard to do it. A ballot initiative passed on Nov. 8 came into effect on Dec. 15, allowing people age 21 and over to possess, grow and use limited amounts of recreational pot.
DIED
Craig Sager, Emmy Award–winning broadcaster for Turner Sports, at age 65. He stood out on the sidelines with his eccentric, brightly colored suits while covering games for more than 40 years.
> John Cloud, an award-winning former senior writer at TIME who specialized in health and social issues, at age 46.
More Must-Reads From TIME
- The 100 Most Influential People of 2024
- How Far Trump Would Go
- Scenes From Pro-Palestinian Encampments Across U.S. Universities
- Saving Seconds Is Better Than Hours
- Why Your Breakfast Should Start with a Vegetable
- 6 Compliments That Land Every Time
- Welcome to the Golden Age of Ryan Gosling
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Contact us at letters@time.com