There's an upside to rising interest rates, many Americans say

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The Federal Reserve is likely keep to interest rates steady for now, a move cheered by President Donald Trump.

However, Fed Chairman Jerome Powell indicated that there will likely be more rate hikes to come, and many Americans are seemingly OK with the central bank’s position, a new poll has found.

Recent signs of rising inflation, which pushed the Fed into hiking rates beginning in 2015, aren’t necessarily bad, investors said.

Rising rates are generally considered an indication that the economy is doing well and pave the way for pay raises and a better return on savings, despite increased borrowing costs.

Forty-four percent of those polled by E-Trade said “a better return on my savings” was the most important effect of rising interest rates, while 37 percent said it was making “borrowing money more expensive.”

People who have savings “are smiling from ear-to-ear every time the Fed raises rates,”


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