Business > Economy

The Fed is about to raise interest rates again - here's how it happens and why it matters

8 monthes ago   |   By Business Insider

The Federal Reserve on Wednesday is set to raise its benchmark interest rate for the third time in 2018.
America's central bank adjusts the interest rates that banks charge to borrow from one another, a cost that is eventually passed on to consumers.
The Fed raises rates in a strong economy to contain excesses, and cuts borrowing costs when the economy needs support.
Banks give out money all the time - for a fee.
When we borrow and then pay back with interest, it's how banks make money.
The cost of borrowing, known as the interest rate, can make a big difference in which credit card you...
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Fed poised to raise rates for third time this year

Fed poised to raise rates for third time this year

8 monthes ago   |   By Miami Herald

The Federal Reserve is set Wednesday to raise interest rates for a third time this year and possibly modify the likely direction of rates in the months ahead. The big...
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