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WATCH: What The Potential Federal Reserve Rate Hike Means For You" target="_blank">

It’s being called the end of the 'cheap money' era. At some point in the near future, perhaps, the Federal Reserve will likely raise interest rates for the first time in nearly a decade. When will it happen? Economists say this December is the most likely date. On this edition of Need to Know with Hélène Biandudi Hofer, we examine why this is potentially happening now and how it affects every day individuals and families throughout Rochester.