Economy
Fed Raises Rates for First Time Since 2023 — What It Means for Your Money
via CNBC
The Federal Reserve raised its benchmark interest rate a quarter point to the 3.75–4% range on September 16, its first increase since 2023, as headline inflation held near 3.4% and policymakers said prices are not falling fast enough. Updated projections suggest at least one more hike is possible before year-end.
Why it matters
Higher benchmark rates feed directly into mortgage rates, credit card APRs, and car loan costs, while online savings accounts stand to offer better returns as banks compete for deposits.


