Right now, investors are worried about the next round of tariffs coming in the escalating trade war between the United States and China (among other countries).
But something even bigger is about to happen… something that could have an immediate – and direct – impact on your bank account: rising interest rates.
Now the Fed already increased rates by one-quarter percentage point back on June 13, and they’re promising two more by December 31.
And despite President Trump’s dissatisfaction with rising interest rates, the chances of this happening are better than ever, thanks to a strong economy and record-low unemployment rate.
That means you could soon be paying more on everything from your mortgage and credit card payments to the equities in your portfolio.