After the Bell: interest rate hike ahead; chicken prices fall; warning about store credit cards
INDIANAPOLIS (WISH) — The Federal Reserve has talked about smaller rate hikes moving forward, saying it’s now appropriate.
So what does that all mean? Economists say instead of those huge 0.75 percentage point rate hikes we’ve seen for four straight months, we’ll likely see a half-percentage point rate hike in December.
Some Fed members said they were concerned about risks to the financial system if they stayed with those big hikes. This is all good news for that “inflation” word.
Buying more chicken?
Thanksgiving is all about turkey, but chicken prices are falling.
As other meat prices have fallen over the past year, chicken has stayed high. Strong demand, supply issues, and even breeding problems kept the pressure on. Conditions are finally easing, which means you should begin seeing lower chicken prices on your next trip to the grocery store.
Huge rates on store credit cards
While you’re out shopping on Black Friday, you may be tempted to apply for a store credit card.
Experts say with interest rates so high right now, those store cards will carry huge interest rates, some as high as 31%. That, of course, means you get charged if you carry a balance.
Experts say it’s always a good idea to understand what you’re getting into before you apply.
Parking for NYC apartments
Automated parking spots are hidden deep below some of New York City’s most luxurious apartment buildings.
Yep, automated. Think giant vending machine. A robot parks and gets your car when it’s time. Tons of cameras make sure your vehicle is in the right spot. In fact, the system can lift and shuffle two dozen cars across four rows and two levels.
Of course, these come with a cost.