Interest Rates are Increasing to Combat Inflation: Here’s Why

(Image taken from: http://www.forbes.com) Staff Writer: Julian Cassady Email: jcassady@umassd.edu On November 2nd, 2022, the Federal Open Market Committee (FOMC) confirmed that they will be hiking interest rates by 0.75%. This article explains how the interest rate hike will affect inflation. Before going into details on the interest rate increase it’s important to clarify what the FOMC is, what purpose it serves, and who are … Continue reading Interest Rates are Increasing to Combat Inflation: Here’s Why