Fed will raise interest rates again soon. Make these money moves now

Americans are dealing with a period of rapidly rising interest rates for the first time in years.

The Federal Reserve on Wednesday released the minutes from its latest meeting, showing that the central bank plans to deliver more 50 basis point rate hikes this year, likely at each remaining meeting on the calendar. In an effort to tamp down inflation, the Fed may also raise interest rates more than the market currently anticipates.

The minutes are from the central bank’s meeting in early May where it raised its benchmark rate a half-point.

As rates increase, there are some key money moves financial…