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The Federal Reserve hiked interest rates to combat inflation: Here’s what that means for you

The Federal Reserve recently raised interest rates by three-quarters of a percentage point, the most aggressive hike since 1994. This rise puts the key benchmark federal funds rate at a range between 1.5 and 1.75%.

The Fed’s intention is to help combat inflation.

Watch this video to find out what rising interest rates mean for you.

This post has been syndicated from a third-party source. View the original article here.

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