How the Fed interest rate hike affects Americans

It’s the biggest hike in nearly three decades. CNN’s Brian Todd reports on the Federal Reserve’s interest rate increase and why the Fed took such dramatic action to stem the tide of inflation. CNN’s Wolf Blitzer then hosts a panel that discusses how the Federal Reserve’s big interest rate increase will affect millions of Americans. #CNN #News


  1. They did the same thing here in Australia less than a month ago. It’s unfortunately the only way to stem inflation.
    Tthe difference is your inflation cost of living is what we consider average.
    Our inflation is double and tripple the cost of living in the U.S.
    Our interest rates have just gone up about also and will be up 2% by november, but the average house price in Australia is $800,000, add that to our incredibly high cost of living….put it this way, if it wasn’t for the fact that you’re a theocracy masquerading as a democracy, i’d move there for a cheaper living lol.

    1. it might be cheaper to buy a case of beer in the USA. good luck with paying for health insurance, property taxes, car and home insurance…. i think we have you covered there. not so bad if you are earning a decent wage in the US – not so good when you are on the minimum wage. compare our $300 per week minimum wage to your $800

    2. People who visit the US sometimes find they’ve been destroyed by having to shell out many thousands to pay for emergency medical care. Medical insurance is a racket.

    1. Lol ya it doesn’t work like that. You keep raising wages and costs keep going up to the consumer. Companies aren’t going to pay people more to work and keep prices the same. Scary that people think you can raise wages without any consequences.

    2. Wages tend to stay or go down effectively. Less hours and workers means more workload. As companies needs to pay more for goods and capital, and deal with less business means cost cutting.

  2. My thought is to get everyone to boycott one large oil company, say Exxon for example. If no one buys from Exxon, their profits drop to zero which will force them to drop their prices to make money. Once Exxon drops prices, it will now be cheaper then other oil companies prices. Now everyone starts buying Exxon because it’s cheaper, other oil companies will have to follow to maintain their profits. Essentially we create a snowball effect forcing oil companies to lower prices.

    1. If everyone stops buying Exxon and starts buying only from other companies, then those other companies will raise prices further. Exxon may lower prices, but we’ll be paying MORE at the pump because we’ve reduced competition by eliminating Exxon. Competition reduces prices.

  3. *I don’t know who needs to hear this but stop depending on the GOVT. and saving all your money, Invest some of it if you want financial freedom.*

    1. I’m happy to see Mr. Glenn Dubin mentioned here, my spouse recommended him to Me after investing $4000 and he has really helped us financially in times of COVID -19 lockdown here in Australia.

    2. Trading options with Mr Glenn is a good chance to make money and start paying your bills. It’s the best opinion to get out of debt

    3. Access to a good information is what the investors needs to progress financially and in life. Here is a good one and I’m grateful.

  4. Got love their advice to consumers, spend as little as possible in the local economy. Let us see how that works out

    1. @Jacob Olness let’s ask the small trucking businesses how they will like paying the increased cost of operation and fuel prices while they take in less money.

    2. @Jacob Olness What about big businesses borrowing money to pay interest on open credit lines? Is that any better than what you describe? It’s going to cost corporations more to borrow money for stock buy-backs.

  5. So rates going up, that means the rate on my saving account is going up right??? Oh not those rates, we can’t have people save and have their savings make money.

    1. They can rise the savings rate over 7% like before this whole mess started in 2008, it will still take a lot of time for people to forget or change the habit that money in a bank is money loosing value at 15%+ real inflation rate, specially after almost 15 years paying zero interests on savings.

  6. Great while my wife & I are looking to buy a house to raise our 3 kids in. Shame we are going to have to keep renting. But what if they raise the rent? What are we going to do? live in an old school bus?

    1. I feel you though. I wasnt able to afford oil to heat my house this winter so my son had to wear a Puffer jacket while he slept at night. I feel like I’m failing him and it hurts

  7. We understand people are having problems paying for things because they’re broke so we’re going to make things more expensive🫣

    1. How to not be broke: don’t spend on credit, don’t buy junk you don’t need, try to be a good worker. Nobody is asking you to be a good worker, just to try.

    1. Along with the other bills passed for tax collection you’re only going to see increased cost. Everything else will go to taxes.

  8. A company’s goal is PROFIT.
    To think gas / fuel companies will sacrifice profit for people, is highly unlikely.

    1. Exactly! Corporations, big pharma, banks, big business etc are never going to sacrifice profit for the greater good. They will continue to seek profit until the world burns around them. Only when their bottom line is affected and there are zero loopholes (lobbying, tax breaks, using overseas labor etc) will they change.

  9. We have to build our dream home 😳…..o well I guess we’ll pay 6.5 percent 🤔………. Hopefully we can refinance in years to come

  10. Amazing. We were taught since age 18 to WANT to build credit so we could afford nice cars and homes, and to borrow money for college to get good paying jobs. Now they tell us not to want any of those things. Now they say you need to pay more to keep them if you have them. People in retirement have to come out and get jobs to pay their mortgage, people who earn their opportunity to retire. Parents like me who already needed reliable transportation to get their child to school are being told not to even try for a decent vehicle. People who have been building credit to buy homes for years are being to “wait a few more years”. They can’t figure out how to increase the rate of pay fairly so we can afford the cost of living, or ways to truly get inflation under control, but they can raise the rates to borrow and discourage spending. This is going to put hundreds of businesses in the gutter and thousands of working Americans out of jobs and their homes. How do you combat inflation by making life more expensive? And they think this is going to prevent a recession? This is going to launch the next recession. Truly amazing.

    1. Exactly what its designed to do. The result of your unemployment insurance and stim checks during lockdowns. Only thing you can do is educate yourself better.

    2. Plus all the money being sent to Ukraine really helps the situation 🤦😒 why help another country when your home roof is falling in ?!?!!

    3. It sucks right now (and has for the past 14 years) but will be better in the long run if the politicians stay out of it…Trump…

    4. @miopera40 🤣🤣🤣🤣🤣 the funny thing I didn’t vote for him in the end 😂😂😂 but those who did shouldn’t complain bc according to the white house the economy is the best it’s ever been 🤦😒

  11. Until interest rates exceed the rate of inflation, the FED will keep increasing rates. You can, in fact look for many 75 basis point increases over the next 2-3 years (if not even higher increases). The cause of all this economic trouble??? EXCESS GOVERNMENT SPENDING… Thank you Comrade Leader Biden!

  12. Exxon earned $5.5 billion during the first quarter, _up from $2.7 billion in the same period during 2021._ (revenues 90,000,000,000)
    However, results were down from the $8.87 billion earned during the fourth quarter of 2021.
    Exxon total number of employees in 2021 was 63,000, a 12.5% decline from 2020

  13. The reason it’s still going up is because low interest rates is not causing it. It’s the supply chain via sanctions & china in frequent lock-downs & big brands jacking up prices at a higher rate than normal. We’ve had low interest rates for years and it was never an issue.

    1. Low interest rates for extended periods of time without stuff to account for more money/leverage WILL lead to monetary inflation.

  14. We are taught at a young age to get into debt to spend more than we can afford ..They want our money that’s the whole point for the rich to get richer but it’s our job to use “ common sense” to think things through before buying or should I say “ overpaying “ . No way I’ll buy a home now or a car. I’ve been holding off for a while. I can still wait, it’s not a problem at all.

  15. This is what happens when you keep bailing out the banks/corporations with the tax payers money.

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