The Opening Bell 12-15-2016: Federal Reserve Interest Rate Hike and the Chicagoland Area Housing Market

Federal Reserve Board Chair Janet Yellen speaks during a news conference about the Federal Reserve's monetary policy, Wednesday, Dec. 14, 2016 in Washington. The Federal Reserve is raising a key interest rate for the first time in a year, reflecting a resilient U.S. economy and expectations of higher inflation. The move will mean modestly higher rates on some loans. (AP Photo/Alex Brandon)

Today on the Opening Bell, Greg Warsek joined Steve Grzanich to discuss the recent interest tax hike and its effects on the housing market. Then, they talked about the housing market in the Chicagoland area at large and reviewed the city’s new restricting regulations on home-sharing sites like Airbnb. Then, Steve heard from CNN Money Senior senior markets and economy writer Heather Long, who has been covering the federal reserve’s interest rate hike. They discussed Janet Yellen’s statement in response to Trump’s criticism and then looked ahead to the coming year of adjusting to the president-elect’s new policies.