Even if Fed Acts, Rates May Be Low for Long Time

Janet Yellen and the Fed are expected to raise interest rates for the first time in nine years later this week, probably by a quarter-point, reports USA Today. Some things to know:

• Even if the Fed acts, rates might well remain relatively low for years, despite some alarming predictions to the contrary. The Upshot explains.
• But if borrowers are worried about a slow and steady uptick in rates, here is what they can do to insulate themselves, per the Wall Street Journal.

• Rising rates could affect retirement portfolios in the form of falling bond prices, and CNBC has some advice on what to keep an eye on—along with a collection of other rate-related stories here.
• After deciding to raise rates, the Fed must then figure out exactly how to go about it. It's trickier than usual: The traditional method involving the federal funds rate will be "too unwieldy" now, reports the Washiington Post.
• Did this move come too late? The Los Angeles Times rounds up some views suggesting the Fed has only made things worse.
• And, of course, all these predictions about what the Fed will do this week might well be wrong, observes TheStreet.

(More Federal Reserve stories.)