Bankrate.com's Greg McBride discusses the Fed's planed interest rate hike

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Federal Reserve Board Chairman Jerome Powell speaks during a news conference following the Federal Open Market Committee meeting, at the Federal Reserve in Washington, DC, on June 14, 2023. The US Federal Reserve voted Wednesday to pause its aggressive campaign of interest rate hikes despite "elevated" inflation, while indicating a sharp increase could be needed before the end of the year. (Photo by Mandel NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)Photo: MANDEL NGAN / AFP / Getty Images


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