What does the federal interest rate mean for our money?

Answer According to Mellody Hobson, a financial contributor for "Good Morning America" and the president of Ariel Capital Management, the federal interest rate has an affect on how much Americans pay on t... Read More »

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What is a federal interest rate?

The federal government charges different interest rates for different types of borrowing. The government lends money to banks at one interest rate, borrows money to operate at another rate and char... Read More »

What does the federal interest rate mean?

The federal interest rate, or the federal funds rate, is the rate at which banks charge each other for overnight loans, according to The Federal Reserve sets this rate to help facilit... Read More »

What determines the Federal Reserve interest rate?

The Federal Reserve interest rate, commonly called the federal funds rate, is a key short-term interest rate. A change in the rate influences lending rates, the dollar's value, employment and the p... Read More »

When does the Federal Reserve meet for the interest rate?

The Federal Open Market Committee (FOMC) has eight regularly scheduled meetings during the calendar year. The FOMC is made up of 12 members, including the seven members of the Board of Governors o... Read More »