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Alan Greenspan

Countdown begins to Fed's decision on interest rates

Countdown begins to Fed's decision on interest rates

The Federal Reserve will announce this week whether it will raise interest rates for the first time in nearly a decade — a highly anticipated decision that has implications for global financial markets and household budgets.

Anxious investors are in countdown mode as the Fed's next move has become one of the most anticipated — and dreaded — events of the year. The World Bank warns that a rate hike could strike "turmoil and panic" in emerging markets. Those looking to buy homes and cars wonder if they'll have to pay more on loans, while savers are watching for more interest on their accounts.

Some economists predict that after recent turmoil in...

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