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How Higher Rates Would Impact the Economy

A rise in rates would have a large impact on the housing market and could also take a bite out of asset prices, says Morningstar's Bob Johnson.

Jeremy Glaser: For Morningstar, I'm Jeremy Glaser. As we wait to see if the Fed is going to raise rates in September or at all this year, I'm here with Bob Johnson, our director of economic analysis, to see if the economy is ready for a rate increase and what the impact is going to be.

Bob, thanks for joining me.