Last week the U.S. Federal Reserve, also known as “the Central Bank”, lowered its key short-term rate a quarter percent. A viewer asks, “Why does the Fed raise and lower interest rates? And, how does it affect my money?” Certified Financial Planner Paul Fain, president of Asset Planning Corporation, answers questions regarding the Federal Reserve…
In his regular “Sunday Money” interview on WBIR, Knoxville’s NBC affiliate station, Paul addressed the Federal Reserve’s decision to raise key interest rates. What does this mean for your money as we rapidly approach year-end? Here is a recap of the Q&A: WHAT DOES A FED RATE HIKE MEAN? The Federal Reserve voted unanimously…
At today’s meeting of The Federal Reserve Board, a decision was made to not increase key interest rates in the U.S. economy. A rate increase is still expected sooner than later, and it will be the first rate hike since 2006. Analysts generally agree that the pace of future rate hikes will be more critical…