Money Another Fed rate increase squeezes big spenders, but penny pinchers win. Here’s why. July 26, 2023July 27, 2023 Medora Lee, USA TODAY Comments Off on Another Fed rate increase squeezes big spenders, but penny pinchers win. Here’s why. Another Fed rate hike further squeezes weary consumers but gives savers a boost. Is it the last increase? Markets seem to think so.