Interest Rate Hikes Add New Challenge for Democrats

NPR: “In an attempt to curb inflation, the Federal Reserve is expected this week to begin raising interest rates for the first time in three years.”

“The move presents President Biden and Democrats with yet another political challenge from a different end of the economic spectrum than higher prices.”

“Higher interest rates, after all, will put a strain on Americans looking to borrow. Buying a home or car, or taking out a student or business loan, for example, will all cost more — although even after several expected rate hikes, borrowing costs will remain low by historical standards.”

Earlier for members: Democrats Must Focus Like a Laser on Inflation