Money WondersPlay

Banks & Central BanksCentral Banks

The Fed Sets the Price of Money

One rate in Washington ripples into your loans

Twelve voters in Washington meet eight times a year. What they decide changes what your card, your mortgage and your savings pay.

You'll find out

  • Who sets the price of money
  • How one rate reaches your card
  • When a mortgage cost 18%

Why it matters

The rates on your loans and savings move for a reason. Knowing where it starts takes the mystery out of them.

About 3 min6 interactive slides · 5 questionsLesson 60 · Zone 7

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