How The Upcoming Fed Meeting Will Impact Your Wallet

Money Rehab with Nicole Lapin

Money News Network

Self-improvement, Business, Education

4.6 • 1.7K Ratings

🗓️ 3 June 2026

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Federal Reserve hasn't been this dramatic in decades. Today, Nicole breaks down everything you need to know about the Fed and exactly what it means for your wallet. Nicole explains how the federal funds rate actually works, why it doesn't directly set your mortgage rate (but still absolutely affects it), and which accounts move immediately when the Fed acts. She unpacks the Fed's dual mandate, and shares her prediction for what Kevin Warsh will do. Check out Nicole's financial literacy course The Money School Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Open a high yield savings account with SoFi at sofi.com/mnn Here's what Nicole covers today: 00:00 Are You Ready for Some Money Rehab? 00:15 Why the Fed Is Bringing the Drama Right Now 00:57 What the Federal Funds Rate Actually Is 01:33 How Banks Borrow From Each Other Overnight 02:01 How the Fed Rate Affects You (And What It Doesn't) 02:21 High Yield Savings Accounts and the Fed 02:39 The Fed's Dual Mandate: Inflation vs. Unemployment 03:36 Where Inflation Stands Right Now 04:04 Inside the FOMC: How Rate Decisions Are Made 04:19 Meet the New Fed Chair: Kevin Warsh 04:49 Hawks vs. Doves Explained 05:08 Trump vs. The Fed: The Political Pressure 05:14 Austan Goolsbee Takes Us Inside the Room 07:30 Internal Dissent at the Fed: Not Seen in 30 Years 07:57 What to Expect from Markets on June 17th 08:53 Nicole's Prediction: Will Warsh Cut or Hold? 09:29 Tip You Can Take Straight to the Bank: High Yield Savings All investing involves the risk of loss, including loss of principal. This podcast is for informational purposes only and does not constitute financial, investment, or legal advice. Always do your own research and consult a licensed financial advisor before making any financial decisions or investments.

Transcript

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0:00.0	I'm traveling to Orlando soon for a conference, and I'm really looking forward to it.
0:04.6	We travel to Florida pretty often to visit my in-laws. And those trips are always such a nice reset for us.
0:12.5	I'm definitely a sunshine girl, so any chance to spend time by the water, whether it's at the beach or just sitting by the pool, makes me so happy.
0:19.7	Lately, I've been thinking about what it would
0:21.6	be like to have a place closer to family, so we'd always have our own space when we visit. And when we're back
0:26.1	home, we could list the place in Florida on Airbnb instead of letting it sit empty. What makes that idea
0:31.6	feel much more manageable now is the co-host network. You can connect with a local co-host who has hosting experience and can help
0:39.3	take care of the important details. A co-host can help create the listing, manage reservations,
0:45.1	message guests, and help make sure everything runs smoothly for guests during their stay.
0:50.4	Honestly, it just feels like a practical way to make better use of a place we'd already love spending time in, while also bringing in a little extra cash from time to time.
0:59.0	If you're interested in hosting and want a little help getting started, find a co-host at Airbnb.com slash host.
1:05.9	Whenever I'm in MidCity, I love to pop into Jurassic Magic. It's this coffee shop? But it's also so much more.
1:11.6	They have books and records, a little outdoor sitting area. The whole thing feels more like a
1:16.6	community spot than a coffee shop. Plus, they have something called a magic latte. It's made with
1:21.4	oat milk, and I'm pretty sure it's just a pumpkin spice latte that it's acceptable to drink in June.
1:26.1	If I can't make it in, I can order online,
1:28.7	directly from the shop using their order portal made with Square. But Square is more than just
1:34.0	coffee to go. With Square, you can track sales, manage inventory, and access reports in real time,
1:41.4	whether you're in your shop, on the go, or running things solo. With Square,
1:46.0	you get all the tools to run your business, with none of the contracts or complexity.
1:51.5	And why wait? Right now, you can get up to $200 off Square hardware at Square.com
1:57.7	slash go slash MNN. That's SQUA-R-E dot com slash GO slash MN. Run your business smarter with
	...

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