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Fed Raises Overnight Lending Rate
Dated: July 27 2022
Views: 74
For the second time in about a month, the Federal Reserve has raised interest rates by .75%. This is the fourth increase in the last five months and has been done in an effort to stave off inflation in a move to stabilize the economy.
The current overnight lending rate (the rate banks charge each other to borrow) which effectively drives all other interest rates, now sits between 2.25% and 2.5%, which is the highest since Q4 of 2018.
This is the first time the Fed has ever raised interest rates by 75 basis points consecutively. As many of us are feeling the pinch of inflation and shrinkflation, these moves by the Fed will continue to have an impact on all of us.
Ryan Sedgwick
My Commitment to YOU!Navigating the world of real estate can feel overwhelming, but you don’t have to face it alone! I’m here to transform the experience of buying or selling your home int....
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