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Interest Rates

Interest rate hike: What you need to know

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The Fed's baby step
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Size of the Fed's balance sheet
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End of an era for Fed?

The Federal Reserve's Open Market Committee Wednesday approved a quarter-point increase in its target funds rate — the first interest rate hike since 2006.

Higher interest rates will have far-reaching implications for every corner of the world economy, from your mortgage rate to emerging market trade. CNBC's ongoing coverage — and what it means for your money — is being collected here.

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