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How the Fed rate hike impacts your mortgage, car loan, credit card and student debt

How the Fed rate hike impacts your mortgage, car loan, credit card and student debt
Photo: NBC 5 Dallas-Fort Worth (KXAS) - Top Stories · view original

The Federal Reserve is the central bank of the United States and is charged by Congress to maintain a stable economy and financial system. One of the ways the Fed does this is by increasing and lowering the cost of borrowing money. Interest rate cuts are intended to encourage more borrowing and s...

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