The is set to hike interest rates by 0.75 percentage point on Wednesday for the fourth time in a row in order to combat rampant . The central bank is expected to bump interest rates from 3.25 percent to 4 percent, another aggressive push as inflation rates, which hit a 41-year high over the summer, remains towering at 8.2 percent.Although inflation could decrease through the hikes, the cost of borrowing for American's is expected to surge, with mortgage rates hitting 7.16 percent last week, well above the rates prior to the 2008 economic crisis.
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