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Economics

Highest Interest Rates in 15 Years Are Derailing the American Dream

‘Consumers who weren’t able to make ends meet are just digging themselves a deeper and deeper hole.’

Bloomberg business news
How Fed Rate Hikes Impact Our Everyday Lives

The highest interest rates in 15 years are delaying home dreams, putting business plans on ice and forcing many Americans to agree to loan terms that would have been unimaginable just nine months ago.

Most of all, the surge in borrowing costs is punishing the cash-poor. And it’s about to get worse as the Federal Reserve carries on with its anti-inflation campaign and keeps hiking rates next year.