TV News LIES

Wednesday, Feb 28th

Last update08:55:09 AM GMT

You are here News Economy How Fed's bigger, faster rate hikes will affect your credit card, mortgage, savings rates

How Fed's bigger, faster rate hikes will affect your credit card, mortgage, savings rates

E-mail Print PDF
Fed raises ratesThe Federal Reserve is expected Wednesday afternoon to announce its largest interest rate hike since 1994 — a bigger increase than it had previously signaled and a sign that the central bank is struggling to restrain stubbornly high inflation.

The central bank is considered likely to raise its benchmark short-term rate by three-quarters of a percentage point, far larger than the typical quarter-point increase, to a range of 1.5% to 1.75%. It will also likely forecast additional large rate hikes through the end of the year.

A series of sizeable increases would heighten borrowing costs for consumers and businesses, likely leading to an economic slowdown and raising the risk of a recession. The Fed's previous rate hikes have already had the effect of raising mortgage rates roughly 2 percentage points since the year began and have slowed home sales.

More...


Most Recent Related Stories...


Macy's to close 150 stores in new turnaround effort, forecasts weak 2024 sales

Macy's to close 150Macy's on Tuesday forecast annual sales and profit below expectations and said it would shutter about...

Wall Street notches fresh records as S&P 500 and Dow Jones close at all-time high

Wall Street notches gains at all time high Wall Street scaled fresh records on Monday, as the S&P 500 and the Dow Jones industrial...

S&P 500 closes above 5,000 for first time as US inflation cools

S&P closes above 5000 US stock markets hit another historic high on Friday, with the S&P 500 closing above 5,000...

Wayfair lays off over 1,000 employees weeks after CEO told company to 'work longer hours'

Wayfair layoffs Online home goods retailer Wayfair announced Friday that it is laying off approximately 1,650 employees, representing...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!