The Federal Reserve’s move Wednesday to raise its key rate by a half-point brought it to a range of 4.25% to 4.5%, the highest level in 14 years.

The Fed’s latest increase — its seventh rate hike this year — will make it even costlier for consumers and businesses to borrow for homes, autos and other purchases. If, on the other hand, you have money to save, you’ll earn a bit more interest on it.

Wednesday’s rate hike, part of the Fed’s drive to curb high inflation, was smaller than its previous four straight three-quarter-point increases. The downshift reflects, in part, the easing of inflation and the cooling of the economy.

As interest rates increase, many economists say they fear that a recession remains inevitable — and with it, job losses that could cause hardship for households already badly hurt by inflation.

Charlotte North Carolina – A Great Place to Raise a Family

Often referred to as “Queen City,” Charlotte, NC is a metropolis in the heart of Mecklenburg County. It’s not far from South Carolina and the Atlantic coastline. It’s a good place to live for the average family. In fact, Charlotte is one of the best cities to raise a family in the country. It’s also home to some of the nation’s best sports teams.

In the past 10 years, the Charlotte Chamber of Commerce has recruited over 56,338 new jobs and $11,020 million in new investment. The city is also home to one of the largest concentrations of Fortune 500 companies. Among the top employers are Bank of America, American Airlines, Lowe’s, and Nucor.

The city is also home to the Bechtler Museum of Modern Art, which has the largest collection of contemporary art in the Southeast. It has more than 1 million works, including some by Edgar Degas and Jasper Johns. It’s also open to the public every day except Tuesday. Its exhibits include temporary exhibitions and an indoor rainforest.

The city is also home to the Blumenthal Performing Arts Center, which has excellent sound quality. There’s also the Charlotte Liberty Walk, a series of bronze monuments detailing the city’s role during the American Revolution. The best part is, it’s free.

Another cool thing about Charlotte is the great outdoors. It’s located near several lakes and mountains. It has a number of vineyards and breweries. In addition, it’s a convenient jumping off point for trips to nearby states.