Why should you care when the Fed hikes its benchmark interest rate?
Why should you care when the Fed hikes its benchmark interest rate?
The Federal Reserve has raised interest rates by a quarter percentage point, in line with expectations. A rate hike of this size may sound small, but it can impact everything from interest rates on savings accounts to how much borrowers pay on their home, car and credit card loans. And this latest move from the Fed is just the beginning.
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