The Fed raised rates again today – the 10th hike in this current cycle.
As a range, Fed funds rate was 0.00%-0.25% just 13 months ago. With today’s hike, it is now set a range of 5.00%-5.25%.
The Fed funds rate is one of the primary monetary policy tools. By raising this rate, the Fed is slowing a heated economy by indirectly influencing consumer and business borrowing rates.
In the latest episode of the Financial Purpose Podcast, I’ll explain at a high level what the Fed funds rate is, how it works, and what it could mean for the economy.
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