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Ever wonder how the Fed's interest rate actually works? We've got answers

The EditorFounder & Editor

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.

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Check My Eligibility

You'll enter your details directly with our partner on their secure site — Step by Step never collects or stores your Social Security number.

Check My Eligibility