What an interest rate increase means for real people

Many Americans don’t pay much attention to what Federal Reserve Chair Janet Yellen and “the Fed” do, but that could change very soon.

In June, the Fed could do something it hasn’t done since Barack Obama was a U.S. senator: raise interest rates.

Don’t hit the snooze button. An interest rate hike will impact everyone who has a home mortgage, car loan, savings account or money in the stock market.

In short, life is about to get better for savers and a little harder for borrowers. Investors could also face tougher times. More here.

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