To maximize profit, minimize debt, and avoid financing woes, jewelers must adapt to rising interest rates. Here’s how the industry’s top finance wonks see the current borrowing climate. The cost of cash is up, and jewelers need to adjust. The Federal Open Market Committee of the Federal Reserve System determines monetary policy to regulate the economy by adjusting its benchmark federal funds rate, which influences interest rates on all types of loans and borrowing for small businesses and consumers, among others. And while the Fed has decided to “adopt patience” toward further rate increases through the remainder of the year, it has lifted them by a quarter percent nine times in its current adjustment cycle, effectively raising the fed funds rate from 0 to 2.5 percent. For jewelers who haven’t been vigilant, that’s bleeding the bottom line throughout operations, from sourc