Episode Notes

Hey everybody, this is Gene Marks. And welcome to this week's Small Biz Ahead podcast, where I'd like to take something going on in the news and maybe give you some thoughts on it. And what's been going on in the news. Well, interest rates has been going on in the news guys. I mean, two weeks ago, the Federal Reserve announced a 75 basis point increase in its federal funds rate. And if you don't know what the federal funds rate is, join the club, neither did I. It's basically the interest rate that banks charge each other to borrow or lend excess reserves overnight. So, I mean this, you know, fluctuations in this rate affects all interest rates across the banking system. So it should come as no surprise that since the announcement, rates for both consumers and businesses have increased. Let me give you an example.

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