Fed ponders interest rates
The Federal Reserve is expected to announce its decision on interest rates at 2:15 p.m. -- yes, four-and-a-half hours away. (Can you stand the suspense?)
The benchmark interest rate that the Fed can lower, raise or leave be affects what banks charge other banks for overnight loans, and therefore what people and businesses pay for loans and mortgages. That rate is at 4.75 percent now.
