The case for and against an interest-rate hike

Should the Fed raise rates?

On December 16th, the Federal Reserve, the American central bank, will take what could be a historic decision: the first interest-rate increase since before the iPhone was invented. The last time the Fed raised rates was in June 2006. The credit crunch and financial crisis followed soon after and rates began to drop. Low rates have played a big role in supporting the global economy since the financial crisis, so the consequences of a rise will be profound. Economists debate whether a rate increase is the right decision. Here are the pros and cons of raising rates.

The Economist

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