The Federal Reserve is the organization that is responsible for things like the nation-wide standard interest rates on loans and lines of credit. Due to our national deficit, the Fed has been considering raising our interest rates to try to reduce our national debt. They've been considering this for quite some time. Our national deficit was made even more substantial during the recession when consumer spending was at a low. The Fed was hesitant to increase these rates because they were afraid it would slow down consumption and slow down recovery. Now that the economy seems to be turned around, they are once again considering increasing our rates. If they do so, this blog post discusses some of the ways that Americans will be affected. Remember me if you're interested in buying or selling residential, commercial or investment properties in Charleston, SC!