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Interest rates

Double whammy: Credit card debt grows as interest rates rise

by Savannah Maher
May 9, 2022
Americans have a $860 billion credit card balance, according to the Federal Reserve Bank of New York.
After paying down credit card debt for the past few years, Americans have gone back to high spending.
Joe Raedle/Getty Images
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What the Fed’s rate hike means for one community bank

by Kai Ryssdal and Maria Hollenhorst
May 5, 2022
Mortgage rates are rising, but deposit rates will lag, says Laurie Stewart, president of Sound Community Bank in Seattle.
Laurie Stewart, the head of Sound Community Bank in Seattle, says pressures to hold more capital will "impact our ability to serve clients and to be investable."
Courtesy Sound Community Bank
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Is a wage-price spiral driving inflation?

by Mitchell Hartman
May 4, 2022
Wages are rising fast, but not as fast as prices. When inflation expectations drive workers' demands for higher pay, inflation can spiral out of control.
Rising prices can motivate workers to seek higher pay. Both are increasing quickly.
Joe Raedle/Getty Images
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Why Fed might not be too upset when stocks fall

by Sabri Ben-Achour
May 4, 2022
All major indices are down for the year. That's probably something the Fed isn't all that mad about.
If the value of people's stock investments go down, they may be less inclined to spend — at least a little.
Spencer Platt/Getty Images
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Federal Reserve raises interest rate by half a percentage point — the largest rate hike since 2000

by Associated Press
May 4, 2022
The Fed intensified its fight against the worst inflation in 40 years on Wednesday and signaled further large rate hikes to come.
Above, Federal Reserve Board Chair Jerome Powell in March. On Wednesday, he confirmed what a lot of economists had been expecting: a half-percentage point interest rate increase.
Samuel Corum/Getty Images
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Anticipated Fed interest rate hike already being felt

by Sabri Ben-Achour
May 3, 2022
Mortgage rates, for example, probably already have the Fed hikes built in.
The Federal Reserve is planning to raise interest rates this week. If you're trying to take out a mortgage, chances are you're already feeling the effects.
Anna Moneymaker/Getty Images
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Rising interest rates likely to make companies think twice before borrowing

by Justin Ho
May 2, 2022
Many have been on a borrowing spree through the past two years of low rates.
As the Federal Reserve prepares to raise interest rates again, businesses' borrowing habits are set to change.
Spencer Platt/Getty Images
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Why does the Federal Reserve raise rates in quarter percentages?

by Janet Nguyen
Apr 29, 2022
The Fed recently hiked rates by 25 basis points, and plans to raise rates several more times this year alone.
A view of the Federal Reserve Board building in Washington, D.C.
SAUL LOEB/AFP via Getty Images
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Japan, bucking the global trend, keeps interest rates low

by Lily Jamali
Apr 28, 2022
While some major central banks tighten monetary policy to fight inflation, the Bank of Japan is taking a very different approach.
The Bank of Japan's headquarters in Tokyo. Unlike many central banks, Japan's is keeping interest rates low, expecting inflation to fade.
Kazuhiro Nogi/AFP via Getty Images
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Can the Fed lower inflation without getting the economy into a recession?

by Kai Ryssdal , Anais Amin and Sean McHenry
Apr 27, 2022
"A look at the record shows that the Fed often stumbles in its efforts to save the day," says Ben White, chief economic correspondent at Politico.
Recessions have followed many of the Federal Reserve's past interest rate hikes.
Samuel Corum/Getty Images
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