Personal Finance
Fed Official Sees Small Rate Hikes Ahead
A Federal Reserve official believes interest rates will likely go up a little more to help control rising prices for everyone.
Families everywhere feel the pinch of higher prices. Groceries cost more. Gas prices keep rising. People worry about their money.
Anna Paulson works for the Federal Reserve. She helps decide what the central bank should do. She says the Fed might raise interest rates again. These increases will be small, she notes.
Raising rates helps to slow down the economy. When things slow, prices often stop climbing so fast. The goal is to bring prices back to normal for everyone.
This means your money will go further again. The Fed keeps working to make sure everyday items are affordable for all American households.
Source: CNBC
