Wow.....Interest rates on the rise? Can it be true?
Is the Federal Reserve increasing interest rates? According to studies by the Federal Open Market Committee (FMOC), it is predicted that there will be stronger economic activity for the coming year as compared to prior years, decreases in unemployment, and inflation to rise by 2 percent over the medium term.
As a result of the current economic climate, predictions for inflation, and positive trends in the labor market, the Federal Open Market Committee voted to increase the target range for the federal funds rate. This gradual increase by the Committee is said be ¼ to ½ percent, which they feel is warranted by the evolving economic conditions.
Interest rates are increasing and inflation is…
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