Fed Interest Rate Hike Hurts Women, African-Americans, Latinos And Low-Income People

IBT – Federal Reserve Board Chair Janet Yellen announced Wednesday that the central bank would be adjusting the target range for the federal funds rate—a short-term interest rate at which banks lend money to one another when their reserves fall short—for the third time since the Great Recession, to a range of between 0.75 and 1 percent. The change sent the stock market soaring, but it also impacted a somewhat less visible slice of the economic pie: debt holders, who are predominantly female, black and Hispanic.

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