In short, the Fed increased interests rates in an effort to keep consumers and businesses from spending as much. Eventually, prices are supposed to drop.
"[The Fed is] also trying to maximize employment and create an environment for economic growth," Hughen said."What they did today was really thread the needle." "Now's a good time to use assets — cash to pay down your home equity line of credits, as well as your credit card loans — before those interest rates really start to impact your budget," he said.
CB_Cotton lol i don't think i'll be paying back loans
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