The Fed will keep raising rates

Federal Reserve Chairman Janet Yellen says it's safe to keep raising a key interest rate.

"Overall, we continue to expect that the economy will expand at a moderate pace over the next few years."

What does that mean for you and me? Invest your money; don't let it rot in the bank.

America's Money Answers Man Jordan Goodman says Yellen will probably raise the rate a quarter point one more time this year.

"She's seeing inflation rising at a lower level than before -- currently 1.4% and they're looking for 2% -- and therefore she may raise interest rates more slowly than people have talked about before and that's why the stock market took off like a rocket."

Goodman says we should put our money to work. He says a good, safe investment is a commercial mortgage bridge loan.

"With a commercial mortgage bridge loan they get a 6% yield over a one year time frame, they get monthly checks and get their money back at the end of the year and that's a lot better keeping the money in banks pretty much earning zero." 

The Fed could be planning three rate hikes in 2018, but Goodman says he expects President Trump to appoint a new Fed Chairman when Yellen's term expires in January.

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