What High Interest Rates Mean for Your Money

Why High Interest Rates Aren't Going Away—and What That Means for Your Money

“I think the Fed is getting close to where they want to hold rates steady and not keep raising them,” says William English, a former senior Fed economist and finance professor at the Yale School of Management. “They have been playing catch up for a while but are probably reasonably content with how things are playing out and will want to avoid making a big change in the outlook for policy at this stage.

Still, the Fed’s long-term outlook is currently unclear. “It’s hard to tell if high rates are here to stay,” English says. “It’s very difficult to calibrate monetary policy very precisely, and so they’re doing the best they can but where rates will be a year from now is just quite uncertain.” “Without interest rate hikes, inflation could become embedded—and that’s problematic,” says Greg McBride, chief financial analyst at Bankrate. He added that in the 1970s, the Fed pumped the brakes on rising interest rates and inflation soon returned.

Source: Education Headlines (educationheadlines.net)

nope. still cost me 3 times as much

🤣🤣🤣

High interest rates are here to stay.

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