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Here's how the latest Fed interest rate hike will affect you

Here’s how the latest Fed interest rate hike will affect you

The Federal Reserve said Wednesday it was once again turning to its most potent weapon to curb the hottest inflation in 40 years: Increase in interest rates. The central bank raised its benchmark interest rate by 0.75 percentage points, marking the fifth hike this year and the third consecutive increase of this magnitude. Higher rates …

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Here's how persistently high inflation could affect your tax bracket next year

Here’s how persistently high inflation could affect your tax bracket next year

Jamie Grill | Getty Images As Americans grapple with soaring prices, experts say it’s likely we’ll see higher-than-usual inflation adjustments from the IRS for 2023 – covering tax brackets, 401(k) plan contribution limits and more. Embedded in the tax code, these annual IRS changes aim to prevent what’s known as “bracket creep,” when inflation drives …

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Another interest rate hike comes from the Federal Reserve: here's how it could affect you

Another interest rate hike comes from the Federal Reserve: here’s how it could affect you

This week, the Federal Reserve will likely hike rates an additional three-quarters of a percentage point for the third straight time in a bid to calm the high cost of living. The US central bank has already raised interest rates four times this year, for a total of 2.25 percentage points. Fed officials have “declared …

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