The Fed just raised interest rates—here are 4 steps you can take to protect your money

On Wednesday, the Federal Reserve raised interest rates by a quarter of a point. That’s the sixth rate hike since it began raising rates from when they were at near-zero in December 2015, and there are three more increases predicted for 2018.

Why does this matter outside of the finance world? Because, simply put, when interest rates rise, the price of money rises too, Greg McBride, chief financial analyst at, tells CNBC Make It: “That ripples out to every business, every consumer, every municipality, even other governments all over the world.”

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