 Janet L. Yellen, chair of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington June 14. (Andrew Harrer/Bloomberg News) By Ana Swanson The Fed's decision to continue hiking interest rates from the ultralow levels they were at during and after the financial crisis might seem like a no-brainer. Interest rates are low by historical standards. And except for a few recent hiccups, the U.S. economy appears to be humming along, with stronger global growth laying a smooth path for its future. Yet the Fed's decision to raise its benchmark interest rate by a quarter point on Wednesday was, for the first time in a long time, met with some dissent. After years of being criticized by those on the right for keeping interest rates too low, Fed chair Janet L. Yellen is finally seeing criticism, much of it from the more dovish left, for pushing rates too high. The Fed is charged with balancing two basic responsibilities. On one hand, it needs to ensure interest rates are low enough that the labor market is strong and almost all Americans who want a job can find one. On the other, it needs to make sure that rates are high enough to restrain rapid increases in prices, which can have a devastating effect on savers, creditors and the economy. The current economy, however, presents something of a puzzle. Read the rest on Wonkblog.
Map of the day Because Republican policymakers declined to expand Medicaid under the Affordable Care Act, a few million Americans not poor enough to qualify for the program, and yet too poor to receive federal help buying private insurance. Max Ehrenfreund has more. 
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