The Fed is set to raise interest rates again — here’s how it happens
|12/13/2017||Posted by BusinessMediaguide.Com under General World News||
- The Federal Reserve is set to raise its benchmark interest rate again on Wednesday.
- The Fed adjusts the interest rates that banks charge to borrow from one another, which is eventually passed on to consumers.
- Some economists say what the Fed is doing now is a bit unusual, because it’s raising rates even though inflation is quite low.
Banks give out money all the time — for a fee.
When we borrow and then pay back with interest, it’s how banks make money.
The cost of borrowing — interest rates — makes a big difference on which credit card you choose read more >>>