Federal Reserve raises interest rate amid signs of cooling inflation

VIDEO: Federal Reserve raises interest rate amid signs of cooling inflation Federal Reserve raises interest rate amid signs of cooling inflation

ORLANDO, Fla. — We’re digging into the Federal Reserve’s latest interest rate hike that’s expected to make big purchases a lot more expensive.

The hike is designed to help cool inflation, and economists say there are signs that may finally be happening.

READ: Central Florida road improvements being delayed due to inflation

Federal Reserve leaders hiked the interest rate three-quarters of a point. It’s the second time they’ve forced that big of a jump since the 1990s.

The Federal Reserve’s decision was expected. Wall Street was very happy, but it will affect how you and your family budget things moving forward.

READ: Lower-income workers lead Orlando’s wage growth

Economists are starting to say the U.S. has hit peak inflation is on the decline.

READ: Best Buy cuts sales forecast as inflation tempers spending

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