The Federal Reserve is finally hitting the brakes on cheap money
After three years of keeping things chill, the central bank is ready to make borrowing hurt a little more.
It has been a wild three-year ride, but the Federal Reserve is officially taking away the punch bowl. With prices for basically everything spiraling, the plan is to bump up interest rates to slow down the spending spree.
Borrowing cash for a new set of wheels or dragging a balance on that credit card is about to get significantly pricier. The era of 'free' money is over, and suddenly, that lingering debt is going to look a lot more expensive.
Cheap credit was a nice party while it lasted, but someone finally decided it was time to check the tab.
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