Things are changing in the debt world soon. According to a recent article by MarketWatch.com, credit card debt will likely cost you more.
“The Federal Reserve said Wednesday it is raising its benchmark federal-funds rate by a quarter percentage point, to a range between 1% and 1.25%.
In other words, the Fed announced an increase in how much banks will be charged to borrow money from Federal Reserve banks. (The Fed raises and lowers interest rates in an attempt to control inflation.)”
The article explains the trickle-down effects on your financial position, discussing how credit cards and bank accounts will change.
For the full article, visit the Market Watch site here.
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