What does the interest rate hike mean for NJ consumers?

March 18, 2022

Looking to put the brakes on inflation the Federal Reserve has announced a quarter-point hike in its key rate, with several additional increases to follow.

According to Rutgers University economist James Hughes, this begins a process that could have a profound impact on Garden State residents in the months to follow.

He said the quarter-point hike is a very modest increase but the Fed has indicated six more increases will be coming before the end of the year.

“They’ve confirmed that they are on a trajectory of rising interest rates and that inflation is a much bigger problem than they anticipated four or five months ago,” he said.

NJ1015.com, March 17, 2022

Recent Posts

Sophia Jones, Committed to Cultural Competence

Sophia Jones, PhD, has been a Public Health part-time lecturer at the Bloustein School since 2016. She was recently featured on "Meet the People of Rutgers." Sophia Jones, Committed to Cultural Competence Jeff Arban/Rutgers University The Basics Title: Program...

Upcoming Events

Event Series CAREERS

Career Virtual Drop-ins

Virtual

Bloustein Career Development Specialists Cheryl Egan and Andrea Garrido will be in a Zoom Room on Monday's beginning January 22, 2024 (excluding holidays and spring break) to answer questions, provide […]