The Federal Reserve raised its benchmark interest rate by 25 points. What does this mean, and what should you do next?
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On march 15th, the fed announced they'll be increasing their benchmark interest rate by 0.25. Now, what does this mean? For you basically, it'll mean that mortgage loan credit card and saving rates will all increase. Although, given that a quarter percent really isn't that much, it will still impact the cost of borrowing. What this does do is deter people from spending as much money, which means that the pressure on prices should start to decrease, slowing down inflation, which was the highest.
It's been in 40 years at 7.5 percent, so, as rates increase, i would recommend saving more given higher interest rates or using things like crypto staking to earn higher percentage gains on your money.
Great glasses man. Good choice