Fed
How Fed rate hikes affect credit cards
The Federal Reserve has raised interest rates dramatically in 2022, and as a result, credit card interest rates are rising. Credit card interest rates can change whenever the Fed’s base interest rate changes, and most cards have a variable annual interest rate (APR), making them directly linked. When the Fed raises rates, credit card companies […]
The Fed Made a $300 Billion Student Loan Accounting Mistake — and Not in the Taxpayer’s Favor
When your budget is in the trillions of dollars, perhaps $300 billion is a rounding error. But for the bill-paying American taxpayer, losing $300 billion is a big deal. A new study published by the Government Accountability Office (GAO) has revealed a shocking gap between what the federal government predicted the student loan program would […]
As the Fed raises interest rates, how will it hit your wallet?
The Fed raised interest rates by 0.25% for the first time since 2018. As if that weren’t enough, the organization expects to bombard us with six more rate hikes over the course of the year. But why? As you must have heard inflation is currently at its highest level in 40 yearswhich makes everything from […]