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Trouble For The Russian Ruble — And What It Means For The U.S.

A police officer goes through the gate of Russia's Central Bank building in Moscow, Russia, Tuesday, Dec. 16, 2014. The Russian ruble faced intense selling pressure Tuesday, falling at one point by a whopping 20 percent to a new historic low despite a massive pre-dawn interest rate hike from Russia’s Central Bank. (Pavel Golovkin/AP)
A police officer goes through the gate of Russia's Central Bank building in Moscow, Russia, Tuesday, Dec. 16, 2014. The Russian ruble faced intense selling pressure Tuesday, falling at one point by a whopping 20 percent to a new historic low despite a massive pre-dawn interest rate hike from Russia’s Central Bank. (Pavel Golovkin/AP)

Russia’s ruble continued to lose value Tuesday, even after a dramatic move by the Central Bank of Russia in the middle of the night, raising its short term interest rate from 10.5 percent to 17 percent.

The fact that the ruble is still falling has increased concerns about the Russian economy. The Wall Street Journal’s Jason Bellini joins Here & Now’s Jeremy Hobson to discuss what this means for Russia — and the U.S.

Guest

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