A message on the Fed's website says it intends to peak US employment and 2% inflation in the long term.
"In support of these goals, the committee has decided to raise the target range for the federal funds rate to 1.5-1.75% and expects further increases in the target range to be appropriate," the Fed said.
As reported by RIA Novosti, the interest rate was raised immediately by 0.75 percentage points for the first time since 1994.
On May 4, the US Federal Reserve raised the rate to 0.75-1%.