How a U.S. debt default would affect American households |
![]() |
Americans will pay more to borrow money after the Federal Reserve raised interest rates another quarter point. This is the tenth hike just this year, as part of a larger effort to curb inflation. Fed Chair Jerome Powell did hint that the stream of hikes may pause -- after the collapse of three banks. This as the President and Republicans are locked in tense stalemate over another economic issue - the debt limit.
|