Business Report: Interest rates rise
Clip: 09/21/2022 | 2m 48s | Video has closed captioning.
Interest rates are moving higher again, resulting in increased borrowing costs for consumers. Interest rates on credit card debt, home equity and car loans will rise now that the Federal Reserve is hiking rates by another 0.75%. Chairman Jerome Powell says the Fed will continue to raise rates to tamp down inflation, which is at a 40-year high.
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