Simon Conway

Simon Conway

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Does probable Fed rate increase tomorrow worry you?

INFLATION word on calculator in idea for FED consider interest rate hike, world economics and inflation control, US dollar inflation

Photo: Getty Images

Tomorrow the Fed is likely to it's base rate by another .75% - the second such rise in two months - as it attempts to curb record high inflation.

The Fed has already raised rates three times this year with the fourth expected tomorrow. The rate they raise is the one that Banks charge each other for overnight loans. That has an effect on all other rates, particularly adjustable rate mortgages, credit cards and Home Equity lines of credit.

The rates are used to slow or speed up the economy. Higher rates = slower economy which can lead to hiring freezes and layoffs.

Which brings us to today's poll... If companies react to higher rates, does this give you cause for concern? Are you worried about it?

Take part in today's Poll...

Our polls are not scientific and are for entertainment

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