Okay, yes, the Fed. But why? From American public media, this is market place.

In Los Angeles, I'm Kai Rizdahl.

It is Tuesday, today the 30th of January or as we like to call it around here,

Fed Eve. No, it's not an official holiday, but if business and economic reporters had our druthers, it would be.

We pay enough attention to what Jay Powell and the

real question is no not when the Fed's gonna start cutting rates though that is a question the real question for actual real people in this economy

is why should we care?

Why should economic civilians, for want of a better word,

care whether and when and by how much the Fed is likely to cut rates

or raise them for that matter.

And why oh why do we spend so much time parsing chair Jay Powell's every word trying to figure

out what he is thinking? Here's Marketplace is Mitchell Hartman. All these words

that come out of a Fed meeting and press conference they can seem like some secret

language meant only for investors and economists.

What the Fed does, often it'll sound like, you know, the wizard behind the curtain and it's just this abstract 25 basis points, whatever is that.

That's former Fed economist Claudia Somme.

The decisions made by the Federal Open Market Committee

they affect all of our lives.

If you're someone trying to buy a home,

if you're a small business trying to get a loan,

it matters to you.

The interest rates are high.

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