t.w. the brics it is a tragedy for all concert. band how fans going to see the world cup in russia will have to have deep pockets. face is your business update on how and i'm free and glad you could join me now we start aid in the united states where the u.s. federal reserve has raised its key interest rate to its highest level since two thousand and eight now analysts were largely expecting this rate increase at the end of the u.s. federal reserve's two day meeting and they caught it a quarter point rise to announce it at one point seven five to two percent the announcement from fed chairman it during power resilience the job market strength and inflation that's finally nearing the fed's target level but the move also means consumers and businesses will face higher loan rates over time and i want to bring in our financial correspondent in new york now you say yes how is this news going down there on wall street. well we see a mixed reaction here on wall street slightly to the downside higher rates are good news for financial instit