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Fed Reduces Rate Meetings, Impacting Borrowers | Markets & Money News
The Federal Reserve has decided to decrease the frequency of rate-setting votes over the next two years, potentially leading to longer waits for consumers to see changes in borrowing costs. Credit card rates continue to rise due to inflation and concerns about payment defaults. While the Fed will still hold eight meetings a year, one will not include a vote on interest rates, resulting in fewer chances to adjust rates in response to changing economic conditions. This shift may maintain higher
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