A sixth straight Fed rate hike, with more ahead. What you should know. – USA TODAY

The Federal Reserve did it, again.
It boosted interest rates again by a whopping 0.75 percentage point on Wednesday and suggested more rate hikes are coming. That means Americans should brace themselves for even higher interest rates.
With inflation still at the highest level in a generation, the Fed’s policy-making arm delivered a fourth consecutive mega three-quarters of a percentage point hike in its benchmark rate to a 3.75% to 4% target range at the end of its meeting on Wednesday. It’s the sixth straight rate hike this year and brings the fed funds target range to the highest level since 2008 from between 0% and 0.25% at the start of the year.


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