The Fed Just Raised Interest Rates Again. Here’s What That Means for You, According to Market Pros

The U.S. economy has been humming along – helped by near-record low interest rates. But that's slowly changing. On Wednesday, the Federal Reserve raised its benchmark interest rate by a quarter point to a range between 2.25% and 2.5%. It was the fourth time the Fed has done so this year.

The market reacted badly, with the Dow shedding 500 points as Fed Chair Jerome Powell delivered the news.

The U.S. economy has been humming along – helped by near-record low interest rates. But that's slowly changing. On Wednesday, the Federal Reserve raised its benchmark interest rate by a quarter point to a range between 2.25% and 2.5%. It was the fourth time the Fed has done so this year. The market reacted badly, with the Dow shedding 500 points as Fed Chair Jerome Powell delivered the news.