What does the interest rate hike mean for you?

What does the interest rate hike mean for you?

(NewsNation) — For the sixth time this year, the Federal Reserve announced it will raise interest rates in an effort to curb inflation, meaning the cost of borrowing for the everyday American will become more expensive.
“The longer the current bout of inflation continues, the greater the chance that expectations of higher inflation become entrenched,” Fed Chair Jerome Powell said.
The Fed…

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