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Fed Raises Rates Amid Inflation Concerns | Yakima News
The Fed just raised rates by a quarter point to 3.75%–4%, its first hike since 2023, as inflation stubbornly exceeds their 2% target. With gas prices climbing and global tensions rising, Chair Kevin Warsh says the Fed’s focus is on preventing price spikes from destabilizing the economy. For everyday folks, this means higher borrowing costs—credit cards, car loans, and personal loans will get pricier, making debt harder to pay down. Savers, however, may benefit from better returns on savings accounts and CDs. Markets are betting on another rate hike later this year, especially at December’s…
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