The cost to borrow is very expensive. Here are the best money moves to make after the Federal Reserve’s interest rate hikes

Econ & Housing

In this articleCTRNThe cost of borrowing is getting more expensive for American households.With Wednesday’s 0.75-percentage-point interest rate hike, the Federal Reserve has raised benchmark short-term borrowing rates 225 basis points, or 2.25%, since March in an effort to curb unrelenting inflation.The federal funds rate, which is set by the U.S. central bank, is the interest rate at…

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