- “The Committee decided to raise the target range for the federal funds rate to 2-1/4 to 2-1/2 percent and anticipates that ongoing increases in the target range will be appropriate,” the Fed said
- The move was intended to increase your payments, therefore incentivizing you to spend less money and thereby quell inflation
- Inflation under President Joe Biden has skyrocketed
Fed Reserve Wants You To Spend Less, So They’re Hiking Interest
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