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How a federal interest rate hike will affect consumers of all kinds of goods

The Federal Reserve raised interest rates last week by three-quarters of a percentage point, the third such move recently.

The central bank is trying to bring down inflation, but the moves also have more immediate impacts.

To learn about what those look like for Arizona, The Show spoke with George Hammond, director of the Economics and Business Research Center in the University of Arizona’s Eller College of Management.

More stories from KJZZ

Mark Brodie is a co-host of The Show, KJZZ’s locally produced news magazine. Since starting at KJZZ in 2002, Brodie has been a host, reporter and producer, including several years covering the Arizona Legislature, based at the Capitol.