US Fed Raises Benchmark Interest Rate by a Quarter of a Percent

The Federal Reserve raised its key interest rate slightly Wednesday. The increase, one-quarter of 1 percent, pushed the benchmark rate to a range between 1.25 and 1.5 percent. While that is still fairly low, analysts say the decision suggests the U.S. economy is strong enough for businesses and consumers to cope with higher borrowing costs. Mil Arcega reports.