BusinessSeptember 26, 2022
'Real cost' of Fed's move to halt inflation
Curbing inflation remains the stated goal of the wave of 0.75% Federal Reserve interest rates hikes this calendar year, with the latest one announced Wednesday by Fed Chairman Jerome Powell. Before last week's increase, Bankrate chief analyst Greg McBride noted American consumers were being charged the highest credit card rates since 1996...
Curbing inflation remains the stated goal of the wave of 0.75% Federal Reserve interest rates hikes this calendar year, with the latest one announced Wednesday by Fed Chairman Jerome Powell.
Before last week's increase, Bankrate chief analyst Greg McBride noted American consumers were being charged the highest credit card rates since 1996.
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Additionally, McBride said mortgage rates now top 6% and auto loans are the highest seen in the U.S. since 2012.
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