Business Services Industry
Rising interest rates call for new directions for borrowers, savers.
Knight Ridder/Tribune Business News, July, 2004
By Todd Mason, The Philadelphia Inquirer Knight Ridder/Tribune Business News
Jul. 6--Interest rates are much more likely to go up than down now that the Federal Reserve Board is back in inflation-fighting mode.
So much for certainty. Now the heartburn begins for people who must make decisions about borrowing and saving as interest rates march higher following last week's quarter-point increase.
Keith Gumbinger, a vice president at HSH Associates, a market research firm in Pompton Plains, N.J., says it could be worse. "The Fed has been pretty good about telling you rates are going to rise and making it as painless as possible at the start," he said.
Gumbinger and other Fed watchers predict that short-term rates will climb by a...
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