Consumers should act before interest rates rise

Credit card holders, people with adjustable-rate mortgages and those invested in certificates of deposit need to keep a close eye on the Federal Reserve Board.

For the second time in as many meetings, the Fed took no action on Wednesday on the federal funds rate, the interest that banks charge each other, leaving it at 5.25 percent. That means interest rates paid on unpaid credit-card balances and some adjustable-rate mortgages are likely to remain steady.