The Federal Reserve just raised interest rates this week for the first time this year. So how does it actually work? And what does it mean for the economy — and the rest of us? Here are some answers.
It may be the most important tool in the Federal Reserve's toolkit: the interest rate.
And on Wednesday, the Fed wielded it for the first time this year, raising rates by a quarter percentage point … [+5343 chars]
And on Wednesday, the Fed wielded it for the first time this year, raising rates by a quarter percentage point … [+5343 chars]