The U.S. Federal Reserve on Thursday will decide if it will raise interest rates for the first time in almost a decade, or opt to wait a little longer. Linda So reports.
A big day at the Federal Reserve. Chairwoman Janet Yellen arrives for the second of a two-day meeting on interest rates. The decision to be announced Thursday afternoon on whether the Fed will raise interest rates for the first time in almost a decade, or opt to wait a little longer. SOUNDBITE: CARY LEAHEY, ECONOMIC CONSULTANT, DECISION ECONOMICS, SAYING: "It's kind of crazy to think your first move in admittedly 10 or 11 years is going to happen after the quietest month of the year, but it may happen today but I would lean against them doing anything because they just haven't told us. With the market split half way, don't go." The Fed's benchmark rate has been near zero since the 2008 financial crisis. If the Fed does not move, the focus will shift to its next meeting in late October. Wall Street opened slightly lower on Thursday with investors reluctant to trade ahead of the big decision on interest rates.