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The Independent UK
The Independent UK
National
Cora Lewis and Tom Krisher

Car buyers bear a heavy burden as Federal Reserve keeps raising rates: Auto-loan rejections are up

Copyright 2022 The Associated Press. All rights reserved.

The Federal Reserve’s expected move Wednesday to raise interest rates for the 11th time could once again send ripple effects across the economy.

Mortgage rates, which have surged since the Fed began lifting rates in March 2022, could rise further. So could rates on credit cards and some business loans.

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