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What Arizonans should expect following the Federal Reserve's interest hike

Responding to general concerns about an economy still being affected by the pandemic, the Federal Reserve increased interest rates June 15 by 0.75% — the most since 1994.

Analysts and consumers are hoping the hike will slow down the impact of inflation, which is at levels not seen in 40 years.

Arizona has been hit harder by higher prices than much of the rest of the country, but will the action to fight inflation slow growth in other areas?

To learn about the impact of the interest hike, The Show spoke with George Hammond, economics professor at the University of Arizona.

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Steve Goldstein was a host at KJZZ from 1997 to 2022.