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.
Share:
More In Business
Revolutionizing Retail: Cust2Mate's Smart Carts Enhance Security and Shopping Experience
Cust2Mate is a leading innovator in retail technology, aiming to revolutionize the shopping experience. By implementing smart cart technology, the tech company addresses the issue of theft while enhancing the shopper's journey.
Biden Proposes Canceling Student Loan Interest to Tackle Debt Crisis
The Biden administration has unveiled a plan, Plan B, to address the student loan debt crisis. It offers to cancel up to $20,000 in interest for borrowers enrolled in income-driven repayment plans. This proposal aims to reset balances for those facing growing debt due to unpaid interest, benefiting low—and middle-income borrowers. An estimated 25 million borrowers are eligible for some form of interest forgiveness.
It’s a Good Time to Buy Boeing Stock (But a Bad One to Fly on Its Planes)
As we head into the second quarter, there’s an argument in favor of buying Boeing stock. Why? As one expert says, ‘there’s nowhere else to get planes.’
Will China Flood the Globe with EVs, Green Tech? Behind the Latest US-China Fight
China’s burgeoning production of electric cars and other green technologies has become a flashpoint in a new U.S.-China trade fight.
Bitcoin’s Q1 Surge and What’s Next with Correspondent Remy Blaire
Cheddar Correspondent Remy Blaire discusses Bitcoin’s Q1 surge and upcoming halving. Will the momentum continue?
Miss Uber Pool? The Next Big Trend in Rideshare Could be Carpool Apps
With inflation and prices still on the rise, it might be worth considering a carpool app. One of them, Singapore-based Ryde, just went public in the U.S.
Cheers to Beer: Samuel Adams’ Craft Revolution & Future Plans
Celebrate National Beer Day with Samuel Adams! Explore the craft beer revolution, future plans, and support for local entrepreneurs.
Rosé Any Day! Meet the Company Delivering Wine Straight to Your Door
Full Glass Wine Co., the company behind Bright Cellars, Wine Insiders, and Winc, knows you fell in love with home delivery during the pandemic – and it’s investing millions into making it even better.
Investors Are Waiting for the Fed to Cut Rates. Here's Why They Shouldn’t
It might sound counterintuitive, but the Fed cutting interest rates three times this year could cause inflation to spike and actually be worse for markets and the economy as a whole.
