Fed Boosts Rates Again: Here’s How to Cope With Higher Interest Rates

Traders work on the floor of the New York Stock Exchange (NYSE) in New York on July 25, 2022. Spencer Platt/Getty Images

For most of 2022, the financial markets have been bleeding red ink, driven by rising interest rates, high inflation, and recession fears.  

The Federal Open Market Committee, the policy-making arm of the Federal Reserve, raised interest rates by another 75 basis points to a target range of 3 percent to 3.25 percent following its two-day meeting on Sept. 21.