What The Fed Decision Means for Borrowers

A CNN article

For the first time in more than three years, members of the Federal Open Market Committee unanimously decided to hike the Fed’s key overnight bank lending rate by a quarter point in a bid to reduce inflation, which remains well above the central bank’s 2% target.

And 16 of the 18 FOMC officials forecast another rate hike later this year.

The effect of the Fed’s decision on your savings and debts – which also may be affected by higher yields on the 10-year and other Treasuries – will vary.

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