3 min read

The Implications of Fed’s 50 Basis Points Hike on Interest Rates

By Private Practice Transitions on Jul 13, 2022 12:00:00 PM

The Federal Reserve’s decision to raise interest rates aims at slowing the economy without leading to recession. The increase in interest rate will also help counteract the effects of inflation while scaling back other COVID-19 pandemic-era economic supports. According to Jerome H. Powell, the Fed Chair, the Fed is moving expeditiously to restore price stability for both consumers and business owners.  

Topics: Interest Rates