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Money moves to make before the Federal Reserve hikes rates


Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022.

Saul Loeb | AFP | Getty Images

The Federal Reserve is again poised to raise interest rates in an attempt to slow down the highest inflation in four decades without pushing the U.S. economy into a recession.

The central bank was expected to hike its benchmark rate at each meeting this year, likely by a half-point. But, after May’s worse-than-expected consumer price index report, some analysts are now projecting a 75 basis point increase from the Fed on Wednesday.

As rates rise, there are some key money moves financial experts recommend consumers make to put themselves in a…


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