The Fed just hiked interest rates by 0.75% for the 4th straight time
The Fed just hiked interest rates by 0.75% for the 4th straight time — escalating fears of a global recession. But here’s why soon-to-be retirees shouldn’t panic
The Fed just hiked interest rates by 0.75% for the 4th straight time — escalating fears of a global recession. But here’s why soon-to-be retirees shouldn’t panic
The Fed just announced its sixth rate hike this year — and some economists predict future increases will take the key rate to over 5%, triggering a recession in 2023.
The federal funds rate has already jumped three percentage points since March, with the newest 0.75% raise closing in on a range of 3.75 to 4%.
It’s becoming more expensive to borrow even as stubborn inflation keeps prices high, and Americans are feeling the strain on their retirement savings.
In fact, four in 10 older Americans are delaying retirement in the midst of challenging economic conditions, according to the Nationwide Retirement Institute — double those who were pushing back retirement last year.
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