Judging from the hype, you’d think the Fed’s decision to raise short-term interest rates for the first time in nearly a decade is the most important thing that’s ever happened.
You’d be wrong, of course, but this is still a momentous decision that has far-reaching implications.
For starters, it could be seen as the beginning of the end of our long economic nightmare. Raising interest rates “recognizes the considerable progress that has been made toward restoring jobs, raising incomes and easing the economic hardships that have been endured by millions of ordinary Americans,” Fed Chair Janet Yellen said at a news conference.
It also has consequences — good and bad — across many different sectors of the American economy. Here are just a few, curated from the countless “What does it mean?” reactions that surfaced following the Fed’s announcement.
- What the Fed rate hike means to you, and your wallet (from Reuters)
- Here’s what the Fed interest rate hike means for consumers (from NPR)
- What does the Federal Reserve rate hike mean for 2016? (from The Washington Post)
- What the Fed rate hike means for your retirement (from CNBC)
- What the Fed rate hike means for retirement plan sponsors, participants (from Employee Benefit Adviser)
- What the Fed’s move will mean for mortgage rates (from Time)
- Here’s how the Fed’s rate decision affects mortgages, auto loans and credit cards (from Business Insider)
- Seven silver linings of a Fed interest rate hike (from NBC News)