The Federal Reserve has announced that for the first time in nearly a decade, America is seeing a rising interest rate. Since the financial crisis in 2008 the central bank has made efforts to keep the rate close to zero, but it is now increasing a quarter of a percentage point.
PCSB Dean Sylvia Maxfield recently discussed the new interest rate with ABC6 News correspondent Bianca Buono. “It’s a positive sign. It means that the Federal Reserve and Janet Yellen think that the economy is strong enough to handle, again, what is going to be a very very modest rate increase,” said Dean Maxfield.
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