I wanted to get this video out to explain the Fed Rate Hike today and how that will impact you.
What? - The Fed increased rates starting today and up to seven more times.
Why? - They need to do this to slow down inflation, which means they need to slow down the speed at which the economy is growing.
When? - They started today.
How to protect yourself? - You need to review and convert all of your short term debt ( equity lines, credit cards, etc.) and move into long term debt ( mortgages, e.g., 30 Yr Fixed Loans )