NJ Spotlight News
Business Report: Fed raises interest rates
Clip: 6/15/2022 | 2m 29sVideo has Closed Captions
The Fed raises interest rates by 0.75%, the biggest increase since 1994
The Federal Reserve on Wednesday raised interest rates by 0.75% -- the biggest increase since 1994. Annoucing the increase, Federal Reserve Chairman Jerome Powell indicated this would not be the last rate hike and said the Fed has also cut its outlook on U.S. economic growth for this year. With Wednesday's move, borrowing becomes more expensive. Interest rates will increase on many consumer loans.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
Business Report: Fed raises interest rates
Clip: 6/15/2022 | 2m 29sVideo has Closed Captions
The Federal Reserve on Wednesday raised interest rates by 0.75% -- the biggest increase since 1994. Annoucing the increase, Federal Reserve Chairman Jerome Powell indicated this would not be the last rate hike and said the Fed has also cut its outlook on U.S. economic growth for this year. With Wednesday's move, borrowing becomes more expensive. Interest rates will increase on many consumer loans.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS