This afternoon, the FOMC is expected to announce a 75-basis point (BPS) rate hike, bringing federal fund rates to the 300-325 BPS range. This means interest rates will be between 3-3.25% for the first time since before the financial crisis in 2007-2008. More specifically, the Fed began cutting rates in September 2007, bringing rates to 3% by January 2008.
Many things have changed since January 2008. Here are 10 things that did not exist last time we saw rates this high.
