High Interest Rates Are Hitting Poorer Americans the Hardest

d8a347b41db1ddee634e2d67d08798c102ef09ac

By The New York Times

Published 2 days ago on

June 29, 2024

The Federal Reserve is holding interest rates at a more than two-decade high in an attempt to wrestle inflation lower. (Shutterstock)

Getting your Trinity Audio player ready...

The Federal Reserve is holding interest rates at a more than two-decade high in an attempt to wrestle inflation lower. That policy has proved especially painful for poorer families.

By Jeanna Smialek and Claire Hogan
c.2024 The New York Times Company
Distributed by The New York Times Licensing Group

DON'T MISS

Home Run Derby Format Change Limits the Number of Pitches Each Hitter Sees

DON'T MISS

Biden’s Debate Performance Raises Alarm in Israel

DON'T MISS

‘A Quiet Place’ Prequel Box Office Speaks Volumes as Costner’s Western Gets a Bumpy Start

DON'T MISS

George Heading to 76ers, Caldwell-Pope to Magic, CP3 to Spurs

DON'T MISS

Lyles Triumphs in 200-Meter Final, Keeps Olympic Sprint Double Hope Alive

DON'T MISS

Zelenskyy Appeals to West to Relax Targeting Limits for Ukraine as Glide Bombs Hammer Front Line

DON'T MISS

Behind Caitlin Clark’s Near Triple-Double, Indiana Rallies From 15 Down to Beat Host Phoenix

DON'T MISS

The Supreme Court Rules for a North Dakota Truck Stop in a New Blow to Federal Regulations

DON'T MISS

McLaughlin-Levrone Breaks World Record in 400 Hurdles

DON'T MISS

Israel Releases 55 Palestinians It Had Detained from Gaza, Including Hospital Director

UP NEXT

Biden’s Debate Performance Raises Alarm in Israel

UP NEXT

‘A Quiet Place’ Prequel Box Office Speaks Volumes as Costner’s Western Gets a Bumpy Start

UP NEXT

George Heading to 76ers, Caldwell-Pope to Magic, CP3 to Spurs

UP NEXT

Lyles Triumphs in 200-Meter Final, Keeps Olympic Sprint Double Hope Alive

UP NEXT

Zelenskyy Appeals to West to Relax Targeting Limits for Ukraine as Glide Bombs Hammer Front Line

UP NEXT

Behind Caitlin Clark’s Near Triple-Double, Indiana Rallies From 15 Down to Beat Host Phoenix

UP NEXT

The Supreme Court Rules for a North Dakota Truck Stop in a New Blow to Federal Regulations

UP NEXT

McLaughlin-Levrone Breaks World Record in 400 Hurdles

UP NEXT

Israel Releases 55 Palestinians It Had Detained from Gaza, Including Hospital Director

UP NEXT

Beryl Makes Landfall as Category 4 Hurricane on Island Near Grenada

George Heading to 76ers, Caldwell-Pope to Magic, CP3 to Spurs

Sports /

22 mins ago

Lyles Triumphs in 200-Meter Final, Keeps Olympic Sprint Double Hope Alive

Sports /

1 hour ago

Zelenskyy Appeals to West to Relax Targeting Limits for Ukraine as Glide Bombs Hammer Front Line

World /

1 hour ago

Behind Caitlin Clark’s Near Triple-Double, Indiana Rallies From 15 Down to Beat Host Phoenix

Sports /

1 hour ago

The Supreme Court Rules for a North Dakota Truck Stop in a New Blow to Federal Regulations

U.S. /

1 hour ago

McLaughlin-Levrone Breaks World Record in 400 Hurdles

Sports /

1 hour ago

Israel Releases 55 Palestinians It Had Detained from Gaza, Including Hospital Director

Global Conflicts /

1 hour ago

Beryl Makes Landfall as Category 4 Hurricane on Island Near Grenada

Weather /

1 hour ago

Give Fresno Firefighters a Break on the Fourth. Keep Your Fireworks ‘Safe and Sane’

News /

1 hour ago

Should Gun Store Sales Get Special Credit Card Tracking? States Split on Mandating or Prohibiting It

2nd Amendment /

2 hours ago

Home Run Derby Format Change Limits the Number of Pitches Each Hitter Sees

The Home Run Derby is altering its format. This year’s event, which takes place on July 15 at Arlington, Texas, limits the number of pitches...

Sports /

6 mins ago

Home Run Derby Format Change Limits the Number of Pitches Each Hitter Sees

World /

7 mins ago

Biden’s Debate Performance Raises Alarm in Israel

Entertainment /

9 mins ago

‘A Quiet Place’ Prequel Box Office Speaks Volumes as Costner’s Western Gets a Bumpy Start

Sports /

22 mins ago

George Heading to 76ers, Caldwell-Pope to Magic, CP3 to Spurs

Sports /

1 hour ago

Lyles Triumphs in 200-Meter Final, Keeps Olympic Sprint Double Hope Alive

World /

1 hour ago

Zelenskyy Appeals to West to Relax Targeting Limits for Ukraine as Glide Bombs Hammer Front Line

Sports /

1 hour ago

Behind Caitlin Clark’s Near Triple-Double, Indiana Rallies From 15 Down to Beat Host Phoenix

U.S. /

1 hour ago

The Supreme Court Rules for a North Dakota Truck Stop in a New Blow to Federal Regulations

MORE LATEST →

Economy /

2 days ago