How Us Fed's Rate Hike Going To Affect Americans' Finances | Mint - Mint
5/4/2022 12:00:00 AM3 yearsago
by AP
by AP
US Fed rate hike: Chair Jerome Powell hopes that by making borrowing more expensive, the US Central Bank will succeed in cooling demand for homes, cars and other goods and services and thereby slow inflation
Record-low mortgages below 3% are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally receive a yield high enough to top inflation. The substantial ha… [+5782 chars]
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