How Will The Fed's Rate Hike Affect Your Loans, Savings, Credit Debt?
The Federal Reserve's interest rate is going to have an impact, but it's probably smaller than you'd imagine ... for now.By Jake Godin | December 16, 2015
The U.S. Federal Reserve has raised interest rates for the first time since 2006.
"Doing so will be a testament also to how far our economy has come in recovering from the effects of the financial crisis and the Great Recession," Federal Reserve Chair Janet Yellen said at The Economic Club in Washington, D.C.
Don't worry. It'll only be a small increase at first — 0.25 percent. That's not much.