The Fed wants to raise interest rates. But can it?

December 17, 2015 10:40 AM

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Wednesday was a momentous day for the nation's economy: The Federal Reserve raised interest rates for the first time in a decade.

At least, it said it wants to raise them. "The committee decided to raise the target range for the federal funds rate" to 0.25 to 0.5 percent, the Fed's statement said. "Target" is the key word there. While the Fed has considerable influence over interest rates in the economy, its powers are not god...

Also read: U.S. Nonfarm Payrolls Rose 178,000 in November; Unemployment Rate Falls to 4.6%

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