Fed Raises Federal Funds Rate (lower is just reverse)

First

Fed raises federal funds rate

A few weeks - a few months (2)

Long-term real interest rates rise

Same day/ Next day

Other short term interest rates rise and the exchange rate rises

One year

Real GDP growth rate decrease

Up to a year (2)

aggregate demand decrease

Up to a year (1)

consumptions expenditure, investments, and net exports decrease

two years

inflation rate decreases

A few weeks - a few months (1)

quantity of money supplied and loanable funds decrease