How Will The Fed Rate Hike Affect Your Wallet?
For the month of March, the Federal Reserve initiated its first interest rate in response to the country’s economic performance. This marks the first interest rate hike since 2018, with the new rate rising by .25% – still relatively low compared to pre-pandemic rates. The interest rate determines the rate banks will pay for borrowing money from the Fed, which in turn affects the amount citizens will pay when needing a loan. Q4 2021 hedge fund letters, conferences and more At the beginning of the COVID-19 pandemic in 2020, the Fed lowered interest rates to 0%-0.25%, allowing borrowers to take a...