BusinessNews brief
Federal Reserve raises rates: Savers 1; Borrowers 0
The Federal Reserve just raised the cost of borrowing money — bad news for borrowers, good news for savers. The Fed increased its benchmark interest rate Wednesday by a quarter-point, the first rate hike since the summer of 2023. The move will likely make it even costlier to borrow for homes, autos and other purchases. But if you’ve been socking money away, you’ll probably earn a bit more interest on your savings.
Sources and context
ApnewsSource headline and summary supplied via NewsData.io. First collected by NewsJaws on 2026-09-17. This is an automated news brief, not original NewsJaws reporting. Dates reflect the source publication. Feed delays may apply.