Higher interest rates are coming, and that’s great for America

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In less than a week (December 16th) the Federal Reserve’s open market committee will get together and, in all likelihood, raise America’s benchmark interest rate for the first time in nearly a decade.

They’ve been stuck at nearly zero (0.25%) since the economy took a nosedive in 2008. Though they won’t be rising very quickly—expectations are for a hike to 0.5% in December and not much higher in 2016—there’s still some hand-wringing that the economy isn’t strong enough to absorb higher borrowing costs or that emerging markets will be hurt.

But there are plenty of reasons to believe the US economy is on a solid footing. The video above shows why you should’t fear a few basis points.