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The Los Angeles

What the Fed interest rate hike likely means for borrowers and savers

What the Fed interest rate hike likely means for borrowers and savers
Photo: NBC Los Angeles (KNBC) · view original

The Federal Reserve just raised the cost of money — bad news for borrowers, good news for savers. The Fed increased its benchmark interest rate Wednesday by a quarter-point, the first rate hike since the summer of 2023. The hike will likely make it even costlier to borrow for homes, autos and ot...

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