Why Does the Fed Change the Interest Rate?
BrainStuff
iHeartPodcasts
4.0 • 1.7K Ratings
🗓️ 30 August 2022
⏱️ 9 minutes
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Summary
The U.S. Federal Reserve is responsible for keeping the country's economy running smoothly. Learn why interest rate changes are one of the Fed's tools in this episode of BrainStuff, based on this article: https://money.howstuffworks.com/fed-change-interest-rate.htm
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Transcript
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| 1:24.2 | Welcome to Brain Stuff, a production of I Heart Radio. |
| 1:43.1 | Hey, Brain Stuff, Lauren Bogobom here. |
| 1:46.3 | The Federal Reserve raised interest rates by 0.75% on July 27th of 2022. |
| 1:53.6 | It was the fourth interest rate hike in just five months, and a duplicate of the |
| 1:57.5 | raise they made in mid-June. It came at the conclusion of their July monetary policy-making |
| 2:02.6 | meeting. They made the decision in order to attempt to relieve historic inflation, |
| 2:08.4 | and officials indicate that they'll be raising interest rates again in September by either 0.5 or |
| 2:13.4 | 0.75 percentage points. But what do these back-to-back-to-back increases mean for the average American |
| 2:21.9 | who has a credit card, mortgage, or bank account? First, let's discuss the Federal Reserve System, |
| 2:29.4 | also called the Fed. The Fed is the central bank of the United States. It's made up of three bodies. |
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