How the Fed's steep rate hikes stand to affect your finances

How the Fed's steep rate hikes stand to affect your finances

2 years ago
Anonymous $CIOZ56dzxX

https://apnews.com/4378483e854aa9ae12c55e5a1232de47

NEW YORK (AP) — Mortgage rates have jumped, home sales have slumped and credit cards and auto loans have gotten pricier. Savings rates are slightly juicier, though.

Yet as the Federal Reserve has rapidly increased interest rates, many economists say they fear that a recession is inevitable in the coming months — and with it, job losses that could cause hardship for households already hurt worst by inflation.