Raising Rates
Back on Wednesday, the almighty Federal Reserve -- led by her highness Janet Yellen -- raised interest rates by a quarter point.
Much of America hears that news -- and eyes gloss over.
Most have no clue what Janet just did.
Most don't care what Janet just did.
But it does matter.
It impacts everyone -- some more than others -- but everyone in some form or fashion.
The Chicago Tribune put this together:
What the Fed's interest rate increase means for you: 6 things to know
Those 6 things:
Watch your credit cards
Homes will get more expensive
Borrowing from your house gets pricier
Buying a car is insulated
Saving money still will disappoint
Borrowing for college getting more expensive
It's a great little summary of how things work in the world of interest rates:
There's likely more rate hikes to come in the year ahead -- so plan ahead!
Out for now.......
Matt
p.s. more MattChat on Janet Yellen:
