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29 October, 13:00

How did rising interest rate affect Americans?

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  1. 29 October, 13:25
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    Answer: There are numerous ways that rising interest rates affect Americans. People have to cut their spending and not purchase items as they had before. Credit cards will raise their interest and this will cause a higher payment and debt owed by consumers. Saving accounts will also have higher rates which will cause consumers to have a debt burden. When interest rates are raised, this causes consumers to borrow less money or apply for credit.
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