U.S. Begins Raising Rates - Are We on the Road to Recovery?

Interest rates went up by a quarter point at 2pm yesterday signaling the Federal Reserve believes the American economy is recovering and will continue to recover from the Great Recession. Short term interest rates had been near zero for 7 years. Rates on credit cards, loans and mortgages will begin to rise slowly. Savers, though, could benefit as interest on savings accounts will also slowly rise. Markets are higher at the open and rose yesterday. We get weekly jobless numbers today and will talk with the Wall Street Journal’s Jon Hilsenrath about what it all means to you.

The House will likely vote today on the first part of a massive spending and tax bill. The $1.1 trillion bill will make many tax breaks permanent and increase the deficit by $500 billion, but has many items wanted by both sides of the aisle.

President Obama visits the National Counterterrorism Center today during the 11am, and meets with his national security team. He’s expected to speak at around 12:15pm ET on national security.

The House Oversight Committee is holding a hearing on the vetting process with officials from the Department of Homeland Security and the State Department will be testifying. Committee members want to know why Tashfeen Malik was able to get a fiancé visa despite having Islamic terrorist sympathies.

FBI Director James Comey says Malik and her husband used private direct social media messages to discuss jihad and martyrdom as far back as 2013.

The Senate is considering revisiting the Patriot Act and Congress’s move to limit the wire-tapping authority earlier this year in the light of the San Bernardino attacks.

The United Nations Security Council set to strengthen sanctions against those who do business with terrorists especially ISIS.

Campaign events before and during our show today with Carson in Iowa, Rubio in Iowa and Cruz in Nevada.

Senator Marco Rubio is our guest today in the 11am hour.

Clint Henderson is the Executive Producer for “Happening Now” and an avid traveler. Follow his adventures on Twitter, ClintPHenderson, and Instagram, clintpage1.