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I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.

It's time for some money we have.

On Wednesday, the Fed had yet another meeting on interest rates.

After all, interest rates are the Fed's favourite tool to curb inflation

and the Fed has been picking up that tool a lot recently.

How much is a lot?

Seven times.

The Fed has raised interest rates seven times over the last year.

That is a lot of times, guys, especially because we got used to interest rates being on the floor during the pandemic

and rates became a bit out of sight, out of mind.

But we know what happened next.

Inflation got out of control and Jerome Powell, the Fed chair, had to step in and make some change.

Literally.

So starting in March 2022, the Fed started slowly hiking rates.

And then in June 2022, the slow hike turned into a little bit of a sprint.

...