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The Fed indicated rates will remain higher for longer. What does that mean for you?

NEW YORK — Mortgage rates, credit card rates, auto loan rates, and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the Federal Reserve indicated Wednesday that it doesn’t plan to cut interest rates until it has “greater confidence” that price increases
United States Greg Mcbride Jerome Powell Ken Tumin Matt Schultz Ally Bank

The Fed indicated rates will remain higher for longer. What does that mean for you?

Mortgage rates, credit card rates, auto loan rates, and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the Federal Reserve indicated Wednesday that it doesn’t plan to cut interest rates until it has “greater confidence” that price increases at the consumer level are slowing to its 2% target. The central bank kept its key rate at a two-decade high of roughly 5.3%, where it has been since last August. C...
United States Matt Schultz Jerome Powell Greg Mcbride Ken Tumin Federal Reserve
Source: yahoo.com

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