The Federal Reserve raised its benchmark interest rate by a quarter percentage point Wednesday, its first rate increase since 2023, a move that could make some forms of borrowing more expensive while boosting returns for savers. An Oklahoma financial expert said borrowers and investors should not necessarily move money around immediately, and said now is a good time to understand your debt, look into your savings, and get organized. Victoria Woods is the founder and CEO of ChappelWoods Financial Services. Woods shared some practical advice for Oklahomans wondering what the Fed’s latest move means for their wallet. The Fed raised the federal funds rate by 0.25 percentage points, bringing its target range to between 3.
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