7 Ways the Fed's Interest Rate Decision Touches Your Wallet

When the Federal Reserve raises or cuts interest rates, you feel it."The Federal Reserve has its fingers in your pocketbook to a greater degree than the IRS," says Michael Reese, a certified financial planner in Traverse City, Mich.The committee sets monetary policy, primarily by raising or lowering the Fed's target for the federal funds rate, which is used as the benchmark for a range of consumer interest rates. Here are seven ways the Fed affects your wallet.  Continue reading...