BBC NEWS | Business | Fed raises interest rate to 1.25%: "The US Federal Reserve has raised interest rates by a quarter percentage point, in a widely-anticipated move.
The rise is the first in nearly four years, and is a means of curtailing inflation as the US economy continues to grow.
The benchmark rate has been increased to 1.25%, from the previous 1% - its lowest level since 1958.
Fed officials, including chairman Alan Greenspan, have hinted in previous months that a rise was imminent." In related news, the rate of return on Certificates of Deposit (CDs) will increase as their interest rates are equally increased! Yee-haw!!!