The Fed just hiked interest rates and signaled more increases are coming. Here are money moves to make now

Source: CNBC — 

For the first time in years, Americans are in a period of rising interest rates.

The Federal Reserve on Wednesday raised its benchmark rate a half-point, to cool down inflation that’s the highest consumers have seen in 40 years. In addition, Fed Chair Jerome Powell signaled more half-point increases are on the table for all remaining meetings this year.

As rates increase, there are some key money moves financial experts recommend consumers make to put themselves in a better financial situation. These broadly include paying down debt and shoring up personal budgets to be able to withstand any sudden shocks to the economy.

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