All eyes on Federal Reserve as it prepares for interest rate announcement

Banks and economists brace for a decision called 'the most eagerly awaited in years' - one that will affect every American and many others around the world

Under intense security and privacy, 12 people are gathering in Washington DC to make decisions that could change the lives of everyone in the US - and much of the rest of the world.

The Federal Open Market Committee (FOMC) will on Wednesday and Thursday thrash out a decision on whether to raise US interest rates, which have been held at near-zero since the 2008 financial crisis.