Interest Rates are Rising – What This Means for Your Bank Account
The Federal Reserve in mid-March announced that for the first time in three years, they’re moving interest rates up by a quarter of a percent (0.25%). While this was an expected move, it’s still going to cause some changes to the financial landscape as we know it.
To gain an understanding of how rising interest rates may affect you personally, first you must understand what we mean when we talk about federal interest rates.
What do we mean by interest rates?
When we talk about the Fed, we’re referring to the federal government, specifically the
