The FED Expected To Raise Interest Rates At First Meeting Of Year

All eyes on Wall Street as the Federal Reserve holds its first meeting of the year. It may be a new year, but some things will stay the same. Bankrate's Greg McBride says the Fed and is expected to raise interest rates for the eighth consecutive time-but it'll be a smaller quarter-point increment leaving rates just above 4 and a half percent. Bankrate's Greg McBride says the Fed is continuing its fight against inflation in a preemptive strike against a recession. He says consumers should focus on saving by locking in longer-term CDs which are now peaking. Inflation still stands around six-percent, the goal is to get it to two-percent.


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