Here's what the Fed's interest rate hike means for you

Federal interest rates explained

Fed's interest rate track

Federal Funds Rate - 62 Year Historical Chart

Fed rate hike not done deal yet

Fed cuts key interest rate

Fed leaves interest rates unchanged

Suppose the Federal Reserve is hoping to increase interest rates in the economy. It plans to change the targeted federal funds rate in order to achieve this goal.a. In order to increase interest rates, the Federal Reserve will need to:- Increase the money supply- Decrease money demand- Decrease the money supply- Increase money demandb. In order to reach the new money market equilibrium, the Federal Reserve will need to target a:- Higher federal funds rate- Lower federal funds rate- Federal funds