The Fed said it will 'monitor the implications of incoming information for the economic outlook as it assesses the appropriate path' of its target interest rate
Fed rate cuts in conjunction with additional fiscal stimulus could result in higher inflation - which could spook markets and lead to a nasty unwinding
US stocks have dropped sharply in recent weeks on concerns over weaker economic growth
The Fed's tightening is designed to reduce the monetary policy boost to a US economy that is now growing much faster than central bank policymakers think it can sustain
Here is a look at how Fed's decision will affect everyday-consume life:
It expects to raise rates more quickly next year to prevent the economy from growing too quickly
US central bank says the economy gains steam and job gains remain solid
The gains helped the S&P BSE Sensex and the NSE Nifty 50 Index pare this week's loss, the first in three weeks
At the end of 2015-16, India's CAD fell to 1.1 per cent of gross domestic product, from 1.8 per cent in the previous financial year