Tom Merton/Getty Images
- The Federal Reserve's recent interest-rate hikes may be affecting your wallet more than you think.
- The Fed funds rate influences mortgage, credit-card, and auto-loan rates.
- This means when the bank hikes rates, it becomes pricier to get a car loan or pay off credit cards.
The Fed has waged a war on inflation for over a year, and while price growth has been slowing amid the central bank's interest-rate hikes, those hikes could be hitting your wallet.