Here are a few ways to situate your money so that you can benefit from rising interest rates, and protect yourself from their downside.
In its continued bid to quash high inflation, the Federal Reserve on Wednesday raised the overnight bank lending rate to a range of 3% to 3.25%.
It is the fifth increase by the US central bank in six months and its third consecutive 75- basis-point hike, which will put upward pressure on other interest rates throughout the economy.For consumers, the Fed's move will spur yet again the question of where to park their savings for the best return and how to minimize their borrowing costs."Credit card rates are the highest since 1995, mortgage rates are the highest since 2008, and auto loan rates are the highest since 2012.
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What rising interest rates mean for you | CNN BusinessIn its continued bid to quash high inflation, the Federal Reserve on Wednesday raised the overnight bank lending rate to a range of 3% to 3.25%. What does this mean for you?
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Explainer: What rising interest rates mean for youHere are a few ways to situate your money so that you can benefit from rising rates, and protect yourself from their downside.
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