ZIRP is over ... let the experiment begin.

So it looks like it was option C: a 25 basis point hike to a range of 0.25% to 0.5%.

Now the experiment begins ...

The graph above shows what will happen to the monetary base if the information equilibrium model is right (0 represents the no change path) and the rate holds for a couple years (it probably won't, I imagine Summer of 2016 will see a second rise).
Also note that the information equilibrium model doesn't tell us about the non-equilibrium adjustment process, so we don't know how fast the base will fall. Keep checking the bi-weekly adjusted monetary base -- it should stop around 2.6 trillion dollars for option C unless there is another rate change intervening.