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The Federal Reserve Board has raised rates again. But what exactly does that mean and how will the changes affect you? Bankrate.com helps you sort it out.
The Federal Reserve Board decided on Feb. 2 that even higher rates were needed to slow the economy. It raised both the federal funds rate and federal discount rate by 25 basis points.
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The Federal Reserve’s Open Market Committee hiked the fed funds and discount rates by a quarter point.
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