The U.S. Federal Reserve has raised its key interest rates by a quarter of a percentage point for the first time in three months. 

Newly appointed Federal Reserve Chairman Jerome Powell notched his first interest rate increase on Wednesday, pushing the U.S. key rates up to the one-point-five to one-point-75 percent range, higher than the Korean rate of one-point-five percent.

The latest increase of 25 basis points resulted in the first "reversal" of interest rates between the U.S. and South Korea in nearly eleven years. 

The new chief of the U.S. central bank lifted the rate, citing positive economic prospects and indicators.

The Fed decided to stick to its plan to raise the key rates three times this year. It will also increase the rates three times next year to keep the current pace.