The Federal Reserve raised the interest rates by a quarter point this week

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Written By Jennifer Joslyn

💸 The Federal Reserve raised the interest rates by a quarter point this week.

What does this mean for you? Well, the good news is that it's a rate increase that’s slightly smaller than the previous rate hikes, but it also brings the rate to its highest level in fifteen years. Fears of a recession have not yet been swayed, and inflation cannot be stifled so easily. But the Fed remains strong-willed that an eventually cooled economy will begin to normalize the situation. However, if you’re planning on buying a home, a car, or a large appliance… you’re likely to feel the burn on this one - again.

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The Federal Reserve raised the interest rates by a quarter point this week
The Federal Reserve raised the interest rates by a quarter point this week

What does this mean for you?

The Federal Reserve is likely to see rising employment costs as the go-ahead for another interest rate increase
The Federal Reserve is likely to see rising employment costs as the go-ahead for another interest rate increase

According to the U.S. Labor Department, the employment cost index grew by 1.2% from July through September.

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The Fed promises more rate hikes despite easing inflationary woes

Cozied up in Jackson Hole, Wyoming this week, Federal Reserve chair Jerome Powell shared a message with others at its Annual Economic Symposium: interest rates will continue to rise.

The Fed blames the supply chain for historic U.S. inflation
The Fed blames the supply chain for historic U.S. inflation

The Federal Reserve Bank of New York has compiled a data analysis that has placed much of the inflation blame squarely on the supply chain.

The Federal Reserve seems unsure about possibility of a recession
The Federal Reserve seems unsure about possibility of a recession

The strong economy benefits from raising wages and consumers continuing to spend. In a way, this inflationary period is testing the limits.

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Main Street anticipating more Federal Reserve hikes

Higher interest rates mean consumers will pay more to borrow money from institutions.

Jennifer Joslyn
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