What the Fed move means for your fi­nances

The Denver Post - - BUSINESS -

The Fed­eral Re­serve’s de­ci­sion could end up helping savers and hurt­ing peo­ple with credit card debt and ad­justable mort­gages. But Amer­i­cans aren’t likely to re­ally feel the ef­fects of Wed­nes­day’s rate hike un­less it’s fol­lowed by sev­eral others. “The im­pact of a sin­gle rate hike is in­con­se­quen­tial,” said Greg McBride, Bankrate.com’s chief fi­nan­cial an­a­lyst. “It’s the cu­mu­la­tive ef­fect that re­ally mat­ters.”

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