The Federal Reserve Board raised the federal funds rate to 5.25% today. Consumers like us will eventually see that increase in mortgage loan and credit card interest rates. While I don’t have a mortgage and I don’t pay interest to credit cards at the moment, I do have student loans that have been affected by rate increases. Unfortunately, my savings accounts lag behind the Fed.
Possibly as a result of the rate hike, stocks were up today. The last few months have killed my investment values. Looking forward to my June financial report, I’ll probably end up with a lower net worth despite not spending some of my income this month.
Today, Microsoft (MSFT) announced it would delay the release of Office 2007 to focus on comments received by testers. I’ve been testing the new version of the suite of applications, and I am impressed with the changes. If you’re a PowerPoint power user, you’ll love the revamped software.
Updated February 6, 2012 and originally published June 29, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.