US interest rates Q&A: what will the Federal Reserve do?

As the Fed embarks on its two-day policy meeting, we analyse why policymakers might vote for the first rate hike in almost decade, why they might not, and what it all means for the global economy

Interest rates in the US have been close to zero since the depths of the financial crisis but global investors are braced for change, as the country's central bank prepares to raise borrowing costs. The first in an expected string of small increases could come this week, with the Federal Reserve rate-setting committee starting a two-day meeting on Wednesday where it will consider a rise. The ramifications of the decision, announced on Thursday, will extend beyond the world's largest economy.

Related: Markets brace for US Federal Reserve interest rate decision - live updates

Related: Federal Reserve slashes interest rates to nearly zero

Speech by Vice Chairman Fischer on U.S. inflation developments: http://t.co/2IKVc1zrOB

No time for an interest rate hike. Read my column: http://t.co/XmY9PS2OO2