Survey: 85% of Americans Concerned About Inflation, Credit Card Interest Up by $3.3B

True Pundit May 2, 2022

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The financial website WalletHub took the pulse of Americans as the Federal Reserve is poised for a rate change.

John S. Kiernan, managing editor of the site, wrote about the survey:

Federal Reserve rate hikes can send shockwaves through stock markets and put many people to sleep. But just because the nitty-gritty of the country’s fiscal policy isn’t exciting to most does not mean we’re unaffected.

The cost of existing credit card debt will rise by $3.3 billion this year if the Fed raises its target rate on May 4, as expected. More rate hikes are expected from the Fed throughout 2022, too, further putting on indebted consumers.

So WalletHub took a survey to discover the public’s sentiment on the subject. And while some people may not be up to date on the Federal Reserve and fiscal policy, respondents had opinions.- READ MORE

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