Fed Rate Hike Could Boost Floating-Rate Annuities

June 22, 2022 by Allison Bell

U.S. life and annuity insurers are trying to be polite about the Federal Reserve Board doing what it can to push interest rates up 0.75 percentage points.

On Wednesday, the Fed moved to increase the target range for the “federal funds rate” — the rate banks use to lend reserve balances to other banks overnight — from 0.75% to 1% to 1.5% to 1.75%.

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Originally Posted at ThinkAdvisor on June 16, 2022 by Allison Bell.