Fed rate hike: Why you should be happy with higher interest rates

The US Federal Reserve raised the rates by 25 basis points

The Federal Reserve just lifted short-term interest rates a quarter point and signaled that more hikes are to come over the course of the year.

The Federal Open Market Committee raised its benchmark lending rate to a range of 0.75 percent to 1 percent, as expected, and projected two more increases would be likely in 2017.

Numerous commentators have focused on who is hurt by rising rates, particularly those with lots of floating rate debt, such as a credit card balance, or anyone in need of a loan.

Not everyone,