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.
A passenger passes a giant American flag as they make their way to and from their gates during the Memorial Day weekend getaway at John Wayne Airport Orange County in John Wayne Airport, Santa Ana, CA on Thursday, May 26, 2022. Allen J. Schaben | Los Angeles Times | Getty Images Canadian travel dropped sharply […]
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A worker helps board up windows at Joey and Brenda Bermudez’s home that was damage by a recent tornado at the Elkhorn Ranch neighborhood in Elbert County on May 19, 2025. RJ Sangosti | MediaNews Group | Denver Post | Getty Images Global insured losses for the first half of this year have reached $84 […]
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American Express has long benefited from a focus on wealthier customers who appreciate the credit card company’s travel and dining perks. That has helped insulate the company from concerns over a spending slowdown. In the second quarter, total spending on Amex cards jumped 7%, matching the first quarter and higher than the 6% increase a […]
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