COLA 2024 has been announced!
⬇️⬇️⬇️⬇️⬇️⬇️ Click SHOW MORE to see all of the details related to this video! 3.2% increase for 2024.
Keep in mind, with last year's significant 8.7% increase and this years 3.2%, that is almost 12% for 2 years! That is actually very good!
SSA announced today a 3.2% increase - https://www.ssa.gov/oact/cola/latestC...
CPI went up 0.04% for September, which was higher than expected - https://www.bls.gov/cpi/
Fed Rates are currently at 5.5%, which is much higher than a year ago at 3.25%.
How do Fed interest rates affect the economy?
What Happens When the Fed Raises Rates? When the Fed raises the federal funds target rate, the goal is to increase the cost of credit throughout the economy. Higher interest rates make loans more expensive for both businesses and consumers, and everyone ends up spending more on interest payments.
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