That is what I am overall concerned about. I have enough cushion for the next 5-6 years, but will be in trouble after that.

Reminds me of my FHA ARM Mortgage back in the 1980s. Went up at 7.5% a year for five years ... had to sell could not afford it. The new owner brought his own financing.

I have a floating rate mortgage so it certainly has not been helping me in the short-term!

JacksonM wrote: Maybe the rate increases have finally happened enough for me to get the slight raise I saw in my high-interest savings account recently. Like everything though, raising the rates has its pros and cons.

It does JacksonM. The more the rates on savings go up the more the individual makes and the more taxes he/she will have to pay on the earnings. It's just a vicious cycle isn't it?

Maybe the rate increases have finally happened enough for me to get the slight raise I saw in my high-interest savings account recently. Like everything though, raising the rates has its pros and cons.

The rate increase will make borrowing more expensive which could impact some people.

Looking at the bigger picture Joker, if someone wants to borrow money, they will borrow it regardless of the interest rate. Adjusting your own finances is simply a matter investing or not.

Not me. But this is coming from a guy still trying to find the logic behind people who went to law school in order to be lawmakers, that are shaping financial policy. They are underqualified, at best.

So as usual, I will just adjust my own personal financial policies so as not to let what they are doing in Washington get in the way of what I need to do.

Wednesday’s statement didn’t muddy the waters. In the minutes following its release (to be precise, as of 2:17 pm EDT), the market pricing for a December policy rate hike remained basically flat at around 85%. I believe the Fed policymakers will not be unhappy with this interpretation. The minutes from the September meeting told us that “many” participants thought a rate hike was likely to be “warranted” later this year. And this still seems to be the case. Who would have thought it?