Interest rate hikes leading to car dealership sticker shock for some

Thanks to another federal interest rate hike, it's now even more expensive to borrow money or carry certain debt in America. Florida Gulf Coast University Economist Victor Claar said the Federal Reserve is working to rein in that demand and to stop the "runaway inflation" we've been seeing—even if it means temporary financial pain for many Americans. "It's not good over the shorter term, but over the longer term it might very well be a price worth paying because nobody wants to live in a country with runaway inflation," he said.