Why the Federal Reserve's Interest Rate Hikes Could Make Personal Loans More Appealing

·4 min read
Why the Federal Reserve's Interest Rate Hikes Could Make Personal Loans More Appealing

In June, the Federal Reserve did something it hadn't done in years -- it raised its benchmark interest rate by 0.75%. The Fed is intentionally raising interest rates in an effort to slow the pace of inflation. Now to be clear, the Fed doesn't set consumer borrowing rates directly.