Interest Gonna Sky Rocket

The Fed’s Cleveland Governor (a voting member if the Fed) says they will jack up the Fed Interest Rate 50 to 70 basis points in May and by a total of 225 basis points (2.5% added to current Fed Rate) by the end of the year. God Help you if you have credit card balances, a variable mortgage rate, or if you want to buy or sell a house or car this year. Keep in mind that the interest rate for the Trillions in Federal Loan debt also goes up hard – and the value of your dollar drops like a lead balloon.