Fed Raises Key Interest Rate07:19
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Traders work on the floor of the New York Stock Exchange (NYSE) on December 16, 2015 in New York City. Stocks were up in morning trading just hours before it is expected that the Federal Reserve will raise interest rates for the first time in nearly a decade. (Spencer Platt/Getty Images)
Traders work on the floor of the New York Stock Exchange (NYSE) on December 16, 2015 in New York City. Stocks were up in morning trading just hours before it is expected that the Federal Reserve will raise interest rates for the first time in nearly a decade. (Spencer Platt/Getty Images)
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The Federal Reserve is raising its key interest rate by a quarter point. It was a unanimous decision and it's the first rate hike since 2006. Diane Swonk, chief economist at Mesirow Financial, joins Here & Now's Jeremy Hobson with details.

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This segment aired on December 16, 2015.

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