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The Fed's interest rate hike, driven by persistent inflation, spells challenges for borrowers but offers higher yields for savers.
WASHINGTON — The Federal Reserve just raised the cost of money — bad news for borrowers, good news for savers.
The Fed increased its benchmark interest rate Wednesday by a quarter-point, the first rate hike since the summer of 2023. The hike will likely make it even costlier to borrow for Read Entire Article
