Interest rates in the United States are currently lower than they have ever been. Economists are divided about whether the Fed should raise the rates. The last time interest rates were raised was 2006. At that time, keeping the rates low prevented more companies from failing, households from going bankrupt and a likely depression. Recently the Fed met to decide whether or not it was time to raise the interest rate. This radio story aired before the decision was made, and discusses the pros and cons of each option.

As a follow up you may also want to listen to this story to hear why the Fed made its decision to leave rates where they are, for now.