Federal Reserve Eyes Interest Rate Increases
The economy is just about as strong as it has ever been since the financial meltdown of 2007-2008, and the Federal Reserve has taken notice and plans to act accordingly. According to the minutes from their March meeting, the Federal Reserve plans to continue their raising of target interest rates, this time from 1.5% to 1.75%. The target rate helps determine rates for mortgages, credit cards, and other borrowing which in effect slows down or speeds up the growth of the economy. Worries of an American trade war with China also came up in the meeting of top economic authorities, which coupled with the inflation rate will likely determine the Federal Reserve’s future decisions.
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