What the Federal Reserve interest rate increase means for consumers

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What the Federal Reserve interest rate increase means for consumers

CHICOPEE, Mass. (WWLP) - The Federal Reserve approved a fourth consecutive interest rate increase on Wednesday as the country fights the worst inflation in decades. 5 key takeaways from the Federal Reserve’s rate hikes This is the sixth-rate high this year, a streak that has made mortgages and other loans increasingly expensive. This latest increase will do the same. This most recent increase is a .75 hike. The move raised the Fed's key shor…