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Here's How The World Looked The Last Time The Fed Raised Interest Rates

June 2006 was a magical time, when Adam Sandler ruled the silver screen, Shakira ruled the Billboard charts and mobile phones were still garbage.

Last updated on July 3, 2018, at 1:32 p.m. ET

Posted on December 16, 2015, at 5:44 p.m. ET

Tim Sloan / AFP / Getty Images

The Federal Reserve raised its target interest rate today — the first rate rise since June 29, 2006. For more than nine years, interest rates have either been falling or staying flat.

There are Wall Street traders today who were mere tweens the last time this happened. And it was a terrible time to be a tween: the Nintendo Wii hadn't even been released yet.

The Wii launch date was announced in Japan a few months later.

Yoshikazu Tsuno / AFP / Getty Images

Here are a few other things that have changed since the last time the Fed raised interest rates.


Number of U.S. troops in Iraq in June 2006: 126,900

Pool / Getty Images

Number of U.S. troops in Iraq today: 3,000.

The price of a Big Mac in the U.S. back then: $3.10

Paul J. Richards / AFP / Getty Images

The price of a Big Mac now: $4.79

There were 566,000 new homes for sale in June, 2006.

Fiona Goodall / Getty Images

There are currently 226,000 new homes for sale.


The number one movie in America, then and now:

Revolution Studios / Lionsgate

Just to be clear here.....


Revolution Studios



But to be fair, the day after the Fed last raised interest rates, The Devil Wears Prada was released in cinemas. Call it a draw?

20th Century Fox

BuzzFeed Business reporter Matt Zeitlin as a 16-year old in 2006.

Like many in the financial media at the time, Zeitlin was asleep to the turmoil ahead.
Matthew Zeitlin

Like many in the financial media at the time, Zeitlin was asleep to the turmoil ahead.

The core inflation rate then: 2.4%.


The core inflation rate now: 1.3%

When the Fed last raised rates, Shakira's "Hips Don't Lie" was the number 1 song. Today, it's Hello by Adele. It's possible the Federal Open Market Committee only raises rates during periods ruled by powerful female solo acts.

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Citi was a banking behemoth back when the Fed last raised rates: the biggest bank in America, the fourth largest public company in the world. A single Citi share would've cost you $430.19.

Then Citi-CEO Chuck Prince.
Yoshikazu Tsuno / AFP / Getty Images

Then Citi-CEO Chuck Prince.

A share in Citi now will cost you $53.90. It's the 40th biggest company in the world today.

And finally, the best smartphone on the market, then and now:

Sebastian Klein / Wikipedia and Cole Bennetts / Getty Images / Via