Good Times mean Fed Rate Hikes

Another sign the economy is booming? The Fed is raising interest rates.

KTRH Moneyman Pat Shinn says it's a done deal.

"It's pretty much a given, pretty much a 100% chance the Federal Reserve is going to raise the overnight lending rate on September 26th."

Shinn says if you have money in a money market fund it means higher interest.

"If you're out trying to buy a one year CD or a one year U.S. Treasury you're going to see higher rates as well."

Shinn says a large part of it is the low unemployment rate.

"Back during the financial crisis there were six people looking for work for every one job posted; today it's flipped -- there are more job openings today than there are people looking for work."

Shinn says the Fed may raise rates again in December and as many as four times in 2019.

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