Now that Fed will raise interest rates in March, how will that impact economy?

WhyTrump

It will have mixed impact, but overall should help, especially financial services Banking sector since they rely on higher interest rates for part of their revenue.
I think that most importantly it will also reflect optimism in the overall economy, driving up equity prices based on future expectations 

ale5

I agree that interest rates in this case will be a strong signal of economic recovery.