Everyone knows what an interest rate is — but do you know who determines them? Maggie gives the quick scoop on how interest rates are set and why knowing what the rate is not just important for your wallet.
Resources:
https://www.iwillteachyoutoberich.com/blog/how-to-live-a-rich-life/
https://www.thebalancemoney.com/10-year-treasury-note-3305795
https://smartasset.com/investing/treasury-yields
Chart: https://fred.stlouisfed.org/series/FEDFUNDS#
https://m1.com/blog/who-sets-interest-rates/
Credit Card Interest Rate Chart: https://www.lendingtree.com/credit-cards/average-credit-card-interest-rate-in-america/
https://www.federalreservehistory.org/essays/fed-funds-rate
https://www.federalreserve.gov/monetarypolicy/openmarket.htm
