What Is ‘the Fed’ — and Why Should You Care?

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 The Federal Reserve has the power to make our lives better or more difficult. Steve Heap / Shutterstock.com

What is the Federal Reserve? You probably know the Fed is powerful. Its meetings are tracked carefully by investors and the news media. Its work can seem complex. You get that it deals with money, loads of it. And numbers: tons and tons of data. OK, impressive. But, otherwise, why should consumers care? Because, although the Federal Reserve doesn’t directly set consumer interest rates…

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