Wed, Aug 2nd, 2023 - 4:14pm
February 12, 2023 - 10:00am | By Kyle Cornell
(Jonesboro, AR) -- It looks like it will cost more for Americans to buy a home, a car, and most credit card balances will increase.
This after a top Federal Reserve official warned of higher interest rates for a longer period of time.
The central bank has been continuously raising interest rates to fight soaring inflation and the official said "it might be a long fight."
It's believed raising rates is necessary to coll of our over-heated economy, which many believe is leading to inflation.