Grassley says "Fed" hike won’t move much

Analysts predict the Federal Reserve Board will raise interest rates a quarter-point during its meeting today. Iowa Senator Chuck Grassley says if the Fed -does- raise the rate, it won’t have much impact in Iowa. “I don’t think it’s going to make a big ripple effect at this point,” Grassley says and he predicts if the rates are hiked, it’ll be the last time this year. Grassley says the way the economy is moving, it really isn’t necessary to raise the rates very far, if at all. With second-quarter growth at only three-percent instead of the four or four-and-a-half percent of the previous quarter, there’s little threat from inflation as the economy is slowing gradually.