Fed approve 1st interest rate hike in 3

[There were over 200 messages when I opened METAR this morning (waaaaay too many to read).

Forgive me if this has already been posted.]

Federal Reserve approves first interest rate hike in more than three years, sees six more ahead

The Fed approved a 0.25 percentage point rate hike, the first increase since December 2018.

Officials indicated an aggressive path ahead, with increases coming at each of the remaining six meetings in 2022.

Members also pared expectations for economic growth this year and sharply raised their outlook for inflation.



I’m not sure it’s making a difference to savers.

Just checked the CD rates at 5/3. 12 month “promotional” CD pays 0.05%. All standard CDs, all amounts, all maturities, pay 0.01%.