The Fed Just Raised Interest Rates Again. Here's What That Means for You, According to Market Pros by Sergei Klebnikov The U.S. economy has been humming along – helped by near-record low interest rates. But that’s slowly changing. On Wednesday, the Federal Reserve raised its benchmark interest rate by a quarter point to a range between 2.25% and 2.5%. It was the fourth time the Fed has done so this year.