but there is a growing course of big names saying look, the fed should wait. they are saying the fed should wait and point to anemic wage growth, low ib inflation and all the volatility we've seen and the worry is that that volatility can spill over into the economy. many say it is the wrong time to pull the trigger. rates are meant to hold down loans for car loans and mortgages. even if the fed puts it decision on ice today rates will eventually go occupy. and when it does pull the trigger it is going to be more expensive for you and me to borrow money. car loans, mortgages, credit cards. all of those rates will go up. the rate hiexs are going to be gradual which means you shouldn't see any massive jumps. my advice, relax. you don't need to rush out and buy a new home or get a new car