Will the Federal Reserve increase interest rates?
Summary
The Federal Reserve is expected to keep interest rates the same for now. However, some experts think inflation might require the Fed to raise interest rates soon.Key Facts
- The Federal Reserve controls interest rates to help manage the economy.
- Currently, most believe the Fed will not change interest rates.
- Inflation means prices for goods and services are going up.
- Some analysts worry inflation is high enough to need higher rates.
- Higher interest rates can slow down inflation by making borrowing more expensive.
- CBS News reported on this topic with correspondent Kelly O'Grady.
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