What Does The US Rate Rise Mean?

It's being taken by some as a sign that the United States has at last emerged from the shadow cast by the financial crisis, and the ensuing Great Recession. The first interest rate increase in the US for almost ten years certainly seems to have pleased the financial markets. So, what do higher interest rates tell us about the American economy right now? The BBC's Mike Johnson interviews Irwin Stelzer of the Hudson Institute in Washington.