Seven years on from Lehman Brothers collapse, it's time for Fed to raise rates

US risks perception it can be blown off course by modest upset in markets. Plus, Justin King's tough start, and what Jeremy Corbyn could mean for business

The seventh anniversary of the collapse of Lehman Brothers falls on Tuesday. By the end of this week, the US may have raised interest rates for the first time since June 2006, marking the moment when a version of financial normality is restored.

Federal Reserve policymakers meet on Thursday for the most keenly anticipated financial event of the year. Should the Fed - finally - take the plunge and raise rates? The answer is yes. Deutsche Bank's chief economist David Folkerts-Landau puts it well: there's never a good time to go to the dentist, but you know delaying it can have consequences.

Related: Lehman Brothers' former CEO blames bad regulations for bank's collapse