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Middle class bears the burden as rates rise
As rates climb to 9.25 percent on new mortgages and higher auto costs, analysts say middle income families face larger payments and slower wealth gains while the wealthy benefit from bonds. The Fed has raised rates six times this year, aiming to curb inflation.
MENTIONED IN THIS ARTICLE
Washington
Linda Forlygen
Frederick, Md
Federal Reserve
Dean Baker
The
Economic Policy Institute
Forlygen
Linda Foflygen
Clinton
Robert Reich
America
Edward Wolff
New York University
Fed
Wolff