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President Donald Trump announces his nominee for Chairman of the Federal Reserve, Jerome Powell (L), in the Rose Garden of the White House in Washington, DC, November 2, 2017.
As another Open Market Committee meeting of the Federal Reserve gets underway, recent signs of rising inflation, which pushed the central bank into hiking rates beginning in 2015, aren’t necessarily bad, some investors say, according to a new report.
They’re generally considered an indication that the economy is doing well, and often pave the way for pay raises and a better return on your savings.
Nearly half, or 49 percent, of those polled said that “a better return on my savings” was the most important effect of rising interest rates, while less than a third, or 31 percent, said it was making “borrowing money more expensive,” according to a recent survey conducted by E*Trade and exclusive to CNBC.
“For people who have savings, this is finally their day in the sun after a decade of near zero returns,” said Greg McBride, the chief financial analyst at Bankrate.com.