Interest rates are rising in the US, but in other places they’re still below zero — here’s what that means
|12/18/2016||Posted by BusinessMediaguide.Com under General World News||
It’s only the second time in a decade. On Wednesday, the Federal Reserve hiked its benchmark interest rate by a quarter of a percent to the range of 0.5% to 0.75%. That number doesn’t affect most Americans directly. It’s a target for the rate charged when banks lend money to each other overnight.
But it eventually filters through the economy, so when the Fed increases rates, it means mortgages will be more expensive, savings accounts will be more lucrative, and student loans a tiny bit more painful.
Fed Chair Janet Yellen cited the “considerable progress the economy has made” read more >>>