This Year AMERICANS are going to face their Finances for even Higher Rates.
This Year the FEDERAL RESERVE has increased its benchmark short-term Fed funds rate by 2.25%
That means the Fed is likely to deliver a third consecutive mega interest rate hike when it concludes its policy-making meeting on Wednesday.
This results in JOB LOSSES to mount as Economic growth grinds to a halt.
“Given the environment of rising rates and a slowing economy, the financial steps for households to take are boosting emergency savings, paying down high-cost debt’’ Gerg McBride, Bankarate Chief Financial analyst, said.
The Fed's expected to raise rates Wednesday by 75 basis points, which would mark the third consecutive increase of that size.
How high will interest rates go?
Economists generally expect the Fed to continue raising rates at every meeting for the rest of this year to get inflation closer to its 2% target.
The new salad that Kamala Harris made fun of. (Copy)