wolf, borrowing costs are about to rise for millions of americans and businesses. janet yellen and her federal reserve expected to nudge official interest rates higher t. a year ago, the fed did the same then stopped, worried about the strength of the u.s. economy. today, wolf, those fears are long gone. here's why the economy is now ready for higher interest rates. unemployment is down to 4.6%, a level economists say is approaching full employment. on average, 180,000 new jobs added each month this year. economic growth is the strong nest two and a half years and an economy humming is starting to push prices higher, though still below the fed's 2% target for inflation. we'll get a fresh consumer price index reading on thursday. what the fed does will affect millions and here's why, wolf, borrowing costs will rise for, say, a new mortgage or a home equity line of credit or your current adjustable rate mortgage. that will cost more. same with car loans and most credit card balances. it's pretty much as expected.