Banking and Capital Markets

5 things to know about the Fed’s biggest interest rate increase since 1994 and how it will affect you

The interest rate hike from the Federal Reserve could impact global consumers, not just Americans. Image: Unsplash/Giorgio Trovato

D. Brian Blank

Assistant Professor of Finance, Mississippi State University

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Federal Reserve chairman Jerome Powell
Federal Reserve chairman Jerome Powell announced a rate hike of 0.75 percentage point on June 15, 2022. Image: The Conversation/AP Photo/Jacquelyn Martin

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