Your phone bill may have caused higher interest rates — kind of.
Americans have seen a 5.9% jump in their wireless bills from July to August alone, according to the Consumer Price Index (CPI) data. In fact, the bump was the largest single-month jump recorded by the Bureau of Labor Statistics in about thirty years.
Experts say this spike may have played a role in the Federal Reserve’s decision to raise interest rates by 25 basis points — now sitting at a 3.75%-4% range.
The committee voted unanimously (12–0) to approve the hike on Wednesday, marking the first time in three years the central bank has raised rates.
So, was your wireless bill the…
Read the full article at NYPOST.COM
