Fed rate hike likely means more expensive credit cards and mortgages, but savers may rejoice
The Federal Reserve has raised interest rates, increasing borrowing costs for credit cards and mortgages. While borrowers face higher expenses, savers may see improved returns on their accounts. The move changes the cost of borrowing money across the economy.
The Federal Reserve just raised the cost of borrowing money — bad news for borrowers, good news for savers. Here's what to know.
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