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What High Interest Rates Mean for American Borrowers, Savers, Homebuyers

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What High Interest Rates Mean for American Borrowers, Savers, Homebuyers
Customers shop at a Target store in San Rafael, California, on June 8, 2022. Justin Sullivan/Getty Images
Andrew Moran
Emel Akan
Updated:
News Analysis

The Federal Reserve raised interest rates by 75 basis points at the June Federal Open Market Committee (FOMC) policy meeting as the central bank tries to stop inflation from spiraling out of control.

Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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