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After the Federal Reserve raises interest rates by 25 basis points, credit card borrowers' interest expenses will quickly increase.
The Federal Reserve on Wednesday decided to raise short-term interest rates by a quarter of a percentage point, which will quickly increase interest expenses for credit card borrowers. Credit card debt, mortgages, and savings accounts may all be affected. Taking an average credit card debt of $6,600 as an example, this rate hike will increase monthly interest by approximately $1.38.
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Source：WSJ市场 · Source Link
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