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Americans will feel the impact as Fed raises rates. Here's what you should know

The floor of the New York Stock Exchange this week, after the Federal Reserve announced a quarter-point hike in its key interest rate. The Fed is raising rates to curb inflation, but that will hit some Americans in their wallets. (AP)
The floor of the New York Stock Exchange this week, after the Federal Reserve announced a quarter-point hike in its key interest rate. The Fed is raising rates to curb inflation, but that will hit some Americans in their wallets. (AP)

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