St. Cloud Times — This week’s hints of rising interest rates shouldn’t alarm consumers, even though lower rates are good for stocks, businesses and home loans.
“For consumers, the rate of borrowing will stay low, and may even stay relatively flat,” said St. Cloud State University economics professor King Banaian.
One of the most significant questions coming out of Wednesday’s press conference with Chair of the Board of Governors of the Federal Reserve System Janet Yellen was whether the Federal Reserve will raise interest rates this year.