Interest Rates Rise for the First Time Since 2006

Told ya... As expected, the Federal Reserve announced that short-term interest rates would rise by 25 basis points (0.25%), the first time the interest rate has increased since 2006. For seven years,  the Fed held short-term rates near zero to apply the paddles to the cardiac crisis that hit the US economy back in 2006, and nurse it back to health. Although the US economy isn't exactly ready for an iconic post-recovery marathon, it is at least at the 10K stage where economic experts agree that a little return to normalcy will do us all some good. Now, the interest rate we are talking about is NOT the mortgage interest rate. The Feds … [Read more...]