This December 3 file photo shows Chair of the us Federal reserve Janet yellen as she testifies before a Joint economic Committee hearing on Capitol hill in Washington, d.C. the us Federal reserve is widely expected to finally push interest rates up after seven years at the zero level when it opens a two-day policy meeting on december 15. AFP PHOTO
WASHINGTON, D.C.: The US Federal Reserve is expected on Wednesday (Thursday in Manila) to increase its base interest rate for the first time since 2006, a momentous step that will have repercussions across the global financial system.