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IronHeart/Getty Images(NEW YORK) The Federal Reserve raised interest rates to a 22-year high this week a milestone that carries major implications for the finances of everyday people, experts told ABC News. The move escalated an aggressive series of rate hikes that has helped dramatically reduce inflation from a peak last summer. But the historically high interest rates are bad news for borrowers, who will face even higher costs for things like car loans to credit card debt to mortgages. The high interest rates do deliver benefits for savers, however, who stand to gain from an uptick in the interest yielded by accounts held at banks as well as bonds and high-yield savings accounts. "It depends what side of the ledger you find yourself on," James Cox, a financial advisor and managing partner of Virginia-based Harris Financial Group, told ABC News. "If you re a saver and you have money in the bank, this is fantastic," he added. "For people who borrow mon

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