Just last week the US central bank, the FED, raised interest rates, the federal funds rate, by 0.25 basis points. US interest rates have been kept to zero and the last time rates were raised in the United States by the FED was back in 2007, during the financial crisis.
In looking back at history and the different people presiding over the FED , in conjunction with the US economy, and how each chairman influenced or changed the economy by using one of the most widely used tools the FED has, the federal funds rate to influence the money supply, and whether the economy was operating under recession or expansion, this article from the NY TIMES is really very informative.
It will take the reader in a journey of learning dating back to the decade of the 70's, the state of the US economy, and how changing interest rates affected inflation, unemployment, and whether the economy managed to shift from, say recessionary to operating at full potential. The link from the NY TIMES is nyti.ms/1P2UZ4D
If there are any questions you can go back to read other articles that explain the federal funds rate, or the role of the FED, and its dual mandate. Alternative you may also go to this link http://www.nytimes.com/interactive/2015/12/11/business/economy/fed-interest-rates-history.html?smid=tw-share
