For the first time in a decade, the US Federal Reserve is considering whether to raise its record-low interest rates
Even before the most powerful central bank in the world makes a move, the effects are reverberating throughout the global economy.
Why is the Fed considering raising interest rates now?
America has seen its longest private sector hiring spurt on record, and unemployment has halved since its peak. The Fed thinks the hot jobs market could spur a pickup in inflation and wages. Given it is tasked with keeping inflation low, it is considering raising the cost of borrowing to keep the economy on an even keel.