How will new interest rates by Federal Reserve impact your financial goals?

Source CBS Local
Original Load Date Sept. 16, 2026, 7:01 p.m.
Last Updated Sept. 16, 2026, 7:01 p.m.
Original URL https://www.cbsnews.com/chicago/news/raised-interest-rates-federal-reserve-september-2026/

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For the first time in more than three years, the [ Federal Reserve raised interest rates by a quarter of a percentage point ][9] . This comes as policymakers try to control inflation, but it could mean higher borrowing costs. Whether you're carrying a balance on a credit card, thinking about buyi...