Interest rates could spike
We could soon be seeing an interest rate hike from The Fed if the unemployment rate falls any lower.
Minutes from the Federal Reserve’s latest meeting showed that while officials decided to keep a key rate unchanged at their last meeting there is growing concern about inflation if the economy out-performed expectations.
Officials worry that if unemployment fell substantially below the Fed’s target 4.8% unemployment goal it could trigger inflation pressures at a faster pace than financial markets currently expect.
Unemployed dipped to 4.7% in December, but rose back to 4.8% in January.
And ATM’s will continue charging withdraw fees.