The Federal Reserve’s move Wednesday to raise its key rate by a half-point brought it to a range of 4.25% to 4.5%, the highest level in 14 years. The Fed’s latest increase—its seventh rate hike this year—will make it even costlier for consumers and businesses to borrow for homes, autos and other purchases.
Similar Stories to How The Fed’s Series Of Rate Hikes Could Affect Your Finances on Bing News
Cora Lewis / AP, Time
Thu, 12/15/2022 - 6:17am
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BING NEWS:
- How the Fed's Interest Rate Cut Could Impact Mortgage Rates
The Fed doesn't directly set mortgage rates, but it influences them by making changes to the federal funds rate, the interest rate that banks charge one another for short-term loans. The Fed's ...
12/18/2024 - 8:00 pm | View Link - Today's Interest Rate Cut: How the Federal Reserve Affects Your Wallet
How does the Fed set interest rates? Interest is the cost you pay to borrow money, whether that's through a loan or credit card. Lower interest rates mean the percentage you owe o ...
12/18/2024 - 6:49 am | View Link - Mortgage Rate Predictions: Fewer Fed Rate Cuts on the Horizon in 2025
The Fed previously slashed interest rates by 0.5% in September and by 0.25% in November. After both rate cuts, mortgage rates went up, not down. That's because the central bank doesn't directly ...
12/15/2024 - 7:05 pm | View Link - After 2 Fed rate cuts, some CD rates are climbing back up above 4% APY
What are the reasons for long-term CD rate hikes? Economically ... The recent election of Donald Trump might also affect the Fed's rate changes. Trump's plans to enact heavy tariffs could impact ...
11/27/2024 - 2:02 am | View Link - Inflation report shows cooling prices on eve of Fed rate decision
Consumer prices rose 3.1% in November compared to a year ago, cooling slightly from the previous month and indicating progress in the fight to reduce inflation, a report from the Bureau of Labor ...
12/12/2023 - 1:01 am | View Link - More
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