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Federal Reserve Expected To Raise Interest Rates

Flags fly over the Federal Reserve Building on Dec. 16, 2008, in Washington, D.C. The Fed is expected to announce today a raise in interest rates by a quarter of a percent. (Mark Wilson/Getty Images)
Flags fly over the Federal Reserve Building on Dec. 16, 2008, in Washington, D.C. The Fed is expected to announce today a raise in interest rates by a quarter of a percent. (Mark Wilson/Getty Images)

Stocks around the world were up this morning, ahead of an expected announcement that the Federal Reserve will raise benchmark interest rates for the first time in nearly a decade.

The increase is expected to be just a quarter of a percent, but it will impact everything from car loans to your savings account.

NPR’s economic correspondent John Ydstie speaks with Here & Now‘s Jeremy Hobson about what this increase will mean.

Guest

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