How the Fed’s increasing rate hikes will hit most American businesses
Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, July 27, 2022.Elizabeth Frantz | ReutersThe Federal Reserve's decision to raise interest rates by 0.75%, or 75 basis points, for the third-consecutive time at the Federal Open Market Committee meeting, is a step being taken to cool the economy and bring down inflation, but it is also putting small business owners across the country in a lending fix they have…