1.   Businesses borrow.

2.   Businesses could borrow money to hire workers and build plants.

3.   By raising the overnight rate, the Fed could be paving the way for lower consumer and business borrowing costs down the road, said former Fed.

4.   Higher interest rates would make it more expensive for businesses to borrow money.

5.   In theory, higher interest rates slow economic growth by making it harder for businesses to borrow and spend.

6.   It also could be paving the way for lower consumer and business borrowing costs down the road, said former Fed.

7.   Less government spending would mean less government borrowing, which would eventually leave more funds available for businesses to borrow, and at lower interest rates.

8.   Most businesses simply cannot borrow, while others pay punishingly high interest rates.

9.   People then buy fewer items on credit, and businesses borrow less money for expansion.

10.   Rising interest rates often hurt shares of banks, brokerage firms and insurance companies because those businesses borrow a lot of money.