1371: Ask Farnoosh: How Will Rising Interest Rates Affect Me? Will the Fed's Rate Hike Work?

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 17 June 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

So many financial questions stemming from the week's Fed rate hike. The Federal Reserve raised the fed funds rate by a whopping 75 basis points, the steepest increase since 1994, in an effort to stem inflation. Is this the right move? What will rising rates mean for our finances? Is a recession now more likely and, if so, how will that affect investments, savings and more? Want more articles and videos by Farnoosh? Check out www.cnet.com/somoney. Subscribe to her weekly So Money newsletter for the latest updates and advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So money is brought to you by CNET, the site that shows how to navigate change all around us.
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0:21.4	So money episode 1371 asks for news.
0:24.7	You're listening to So Money, with award-winning money guru Farnoosh Karabi,
0:31.1	each day in a 30-minute dose of financial inspiration from the world's top business minds,
0:36.3	authors, influencers, and from Farnoosh yourself.
0:40.6	Looking for ways to save on gas or double your double coupons?
0:44.2	Sorry, you're in the wrong place, seeking profound ways to live a richer half your life.
0:49.6	Welcome to So Money.
0:51.9	Welcome to So Money.
0:53.9	Everybody, it is Friday, June 17th.
0:56.9	How you doing?
0:57.9	Farnoosh Karabi here.
0:59.5	I know you've got a lot of questions about the economy on your mind.
1:03.5	I was on Instagram earlier this week.
1:06.8	Right before the Fed announcement came down on, I guess it was Wednesday, Thursday.
1:11.6	I can't remember now.
1:12.5	I got, yeah, it was Wednesday.
1:14.3	And we all anticipated a massive rate hike, 75 basis points.
1:17.5	That's historic.
	...

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