April 17, 2023
Question: I keep hearing that the Fed raised interest rates by basis points - what does that mean?
Answer: Basis points is a fancy way of saying interest rates. For example if they increased rates by 25 basis points, that means 0.25%; 100 basis points would be a full 1.00%.
Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.