The Federal Reserve increased its benchmark interest rate one-quarter of a percentage point Wednesday—a decision that is likely to have little immediate impact, credit union economists said.
"On the whole, the impact of a quarter-point rate hike on U.S. households should be minimal," said NAFCU Chief Economist and Director of Research Curt Long.
The increase was the first this year and additional increases are expected next year, with the Fed saying that the expectation of inflation has increased considerably.
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