Fed Raises Rates: What It Means for Borrowers #FedRateHike #InterestRates #PersonalFinance

Gerson Gibbs joins PHL17: The Fed raised rates for the first time since 2023, a quarter point to 3.75%–4%. Inflation is still running hot at 3.4%, and most Fed officials expect another hike before year-end. What changes: variable-rate debt, credit cards, HELOCs, and new auto and personal loans. What doesn't: fixed-rate loans and CDs you already have locked. Source: PHL17 Morning News https://phl17.com/video/fed-raises-rates-w... Not financial advice.