BUSINESS
Federal Reserve raises interest rates for first time since 2023
The Federal Reserve raised its benchmark interest rate by a quarter point, marking the first increase in more than three years. The move is expected to increase borrowing costs for mortgages, car loans, and credit cards while potentially benefiting savers with higher yields on savings accounts.
Left4
Left-leaning outlets emphasize the immediate impact on borrowers, noting that higher rates make mortgages and consumer loans more expensive while highlighting the tradeoff that savers may benefit from increased returns on savings.
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