- The Federal Reserve once again raised interest rates by 75 basis points on Wednesday. This marked the third consecutive 75-basis point increase and the fifth rate hike this year.
- The rate hike brings the federal funds rate to a targeted range of 3 percent to 3.25 percent. The Fed anticipates that more rate hikes are on the horizon, as it is “strongly committed to returning inflation to its 2 percent objective.”
- If you want to take advantage of interest rates before they move higher, you could consider taking out a personal loan to pay down high-interest debt at a lower rate. Visit Credible to find your personalized interest rate without affecting your credit score.
