How the Fed’s rate increase will hit Americans’ monthly budgets

By raising rates, the Fed seeks to cool the economy and rein in inflation, which continued to run higher than expected in August (Photo: AFP) — By raising rates, the Fed seeks to cool the economy and rein in inflation, which continued to run higher than expected in August (Photo: AFP)

wsj

4 min read . Updated: 22 Sep 2022, 07:11 PM IST Julia Carpenter, The Wall Street Journal

The slow burn of rising interest rates raises the cost of car loans, mortgages and credit cards

Listen to this article

The Federal Reserve raised rates another 0.75 percentage point Wednesday, as part of its continuing effort to stamp out stubbornly high inflation. Americans are only beginning to feel the full impact of these moves.

Post your comment