Fed Reserve Wants You To Spend Less, So They’re Hiking Interest

  • “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
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