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

https://youtu.be/5rXd-4N2YMo

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