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Fed rate hike will likely push borrowing costs on credit cards, mortgages — but benefit savers

Fed rate hike will likely push borrowing costs on credit cards, mortgages — but benefit savers
Photo: Odessa American (oaoa.com) · view original

By PAUL WISEMAN AP Economics Writer WASHINGTON 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 e...

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