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The Federal Reserve lifted its interest rate to a range of 1.25 percent-1.5 percent because of rapid economic growth over the past few months and a strong labor market.

The raise will eventually increase the interest rates that banks charge for consumer-credit products, including mortgages and loans. The rate hike was anticipated and the Federal Reserve is expected to raise rates three more times in 2018. 

The EM (Emerging Market) Countries will be negatively affected.