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Summary Of What A Fed Rate Hike Mean To You

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Summary Of What A Fed Rate Hike Mean To You
According to CNN’s article “What a Fed Rate Hike Mean to You,” it informs readers that on Wednesday the key interest is going to rise which will be the second time it has since 2006. This rate hike won’t change drastically but raising the rates affects numerous Americans especially if you have a credit card, a savings account, an investment in stocks or bonds, or wanting to buy a home or car. A rate hike like this indicates that the economy is doing a bit better than eight years ago during the Great Recession. Because of the rate hike, one can earn more interest in a savings account which would be good for those who have a savings account and know how to use it correctly. The mortgage rate has gone up drastically since Trump has been elected
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