RateGain Recognized Among Top Tech Solutions at Hotel Tech Awards for Four Straight Years
📈 In a landmark financial move, the Federal Reserve increased interest rates by 0.5% on May 4, 2021, marking the largest rise since 2000. This decision aims to combat the soaring inflation rates, which have reached a 40-year high at 8.5%. The increase affects millions as the prime rate jumps to 3.5%, directly impacting loans and credit card rates. The Fed projects six more hikes this year, signaling a significant shift in economic policy to stabilize the surging cost of living.
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