MoneyWatch: Federal Reserve announces the first interest rate hike since 2018
The Federal Reserve announced a 0.25% interest rate hike -- the first increase since 2018. The Wall Street Journal's chief economics correspondent Nick Timiraos, author of "Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster," joins CBS News to explain what this means for American consumers.