The Federal Reserve kept their promise and raised interest rates for the second time this year by a quarter point on Wednesday. Some critics say it’s too late. Others say it’s too soon.
When the Federal Reserve raises interest rates, it’s has more to do with the money supply and monitoring the economy than it does with 30 year fixed rate mortgages or consumer loans. Short term loans, like equity lines, adjustable rate mortgages and revolving credit card rates could increase. This nuance is often confused by media outlets.
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