The Fed is raising rates. What's it going to cost you?

December 16, 2015 7:07 PM

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After nine years of some of the lowest interest rates in history, the Federal Reserve on Wednesday started the process of making it more expensive to borrow money and more lucrative to save.

Consumers can expect changes in everything from car loans to credit cards. But analysts are anticipating such a mild difference for the next year, that people may wonder why talk of a rate increase was such a big deal. While the Federal Reserve raised an interest rate it controls (the Federal Funds ...

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