Poorer Americans Bear the Brunt of High Interest Rates

24.05.17 News

High interest rates are disproportionately impacting low- and moderate-income families, causing more Americans to fall behind on credit card and auto loan payments. As borrowing costs rise, monthly interest expenses have soared, pushing financially strained families closer to the edge. Fed officials have indicated that they expect to keep interest rates at their current level, so these folks won’t likely see any relief soon.

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