ABC · LiveNOW from Fox · updated 15h ago

Consumers Brace as Fed Hikes Rates Chairman Deefies Triimp With First Increase Since 2092

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LiveNOW from Fox

“FEDERAL RESERVE HIKES INTEREST RATES FIRST TIME IN YEAR”

covered 15h ago ▶ Be on the air with LiveNOW from Fox
ABC

“CONSUMERS BRACE AS FED HIKES RATES ENERGY COSTS HAVE SKYROCKETED SINCE STARTOE IRAN WAR”

covered 20h ago ▶ Be on the air with ABC

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The 1973 Arab Oil Embargo nearly doubled U.S. gas prices overnight.

Arab nations halted oil exports to the U.S. in Oct. 1973, sending gas prices from ~38¢ to over 55¢ per gallon. The crisis led Congress to create the Strategic Petroleum Reserve in 1975 — still used today to stabilize prices.

Topic poll · all networksWhich Fed priority should matter most right now?

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One Fed rate move ripples into mortgages, cards & savings

The Fed's benchmark rate, unchanged since 1913 in structure, quietly drives your mortgage, credit card APR & savings yield. Explore how it works at Wikipedia

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