As the Federal Reserve warns it could continue to raise benchmark interest rates, it raises questions about what it means for the general public. Cheddar News Senior Reporter Chloe Aiello explains the trickle down effect it has on the broader economy, from inching up interest in your savings accounts to forcing large-scale layoffs.
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
