How The Fed’s Interest Rate Hikes Could Affect Your Finances

Photo credit: Filmstax via Getty Images. Article by Cora Lewis, AP. Huff Post – December 15, 2022. Original article published by AP News. 

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.

NEW YORK (AP) — 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 […]

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