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

HONESTLY I CANNOT DEAL WITH THIS ONE THE FEDERAL RESERVE JUST RAISED INTEREST RATES THIS WEEK FOR THE FIRST TIME THIS YEAR AND EVERYBODY IS ASKING HOW THE WHOLE SYSTEM ACTUALLY WORKS WHICH IS WILD BECAUSE THEY DO THIS HUGE MOVE AND NOW NPR HAS TO PUT OUT A GUIDE TO EXPLAIN WHAT IT EVEN MEANS FOR THE ECONOMY AND WHAT IT MEANS FOR THE REST OF US AND THE THING IS I AM STANDING HERE TRYING TO TALK LIKE A REAL WALL STREET PROFESSIONAL BUT THE TRUTH IS NOBODY IN THIS CLUB CAN EXPLAIN HOW THE FED WORKS WITHOUT READING AN ARTICLE FIRST SO NOW WE ARE ALL TRYING TO FIGURE OUT WHAT THIS HIKE ACTUALLY DOES TO EVERY SINGLE ONE OF US WHICH MEANS WE ARE SITTING HERE DIGGING FOR ANSWERS. OK TELL ME THAT IS NOT WILD.

OMG WAIT DID YOU HEAR ABOUT THIS THE FEDERAL RESERVE JUST RAISED INTEREST RATES THIS WEEK FOR THE FIRST TIME THIS YEAR AND I LITERALLY HAD TO PUT MY DRINK DOWN BECAUSE NOBODY EVER ACTUALLY GETS HOW IT ALL WORKS AND NPR IS OUT HERE DROPPING ANSWERS TO EXPLAIN WHAT IT EVEN MEANS FOR THE WHOLE ECONOMY AND WHAT IT MEANS FOR THE REST OF US WHICH IS WILD BECAUSE I AM STANDING HERE AT ONE IN THE MORNING TRYING TO SOUND LIKE A SOPHISTICATED FINANCE PERSON BUT THE THING IS WE ARE ALL JUST WONDERING WHAT HAPPENS NEXT AND HOW THIS MECHANISM EVEN OPERATES AND SO NOW EVERYONE IS TRYING TO FIGURE OUT THE SYSTEM FROM SCRATCH WHICH MEANS WE ARE ALL DESPERATELY READING BASIC EXPLAINERS. OK WAIT IS THIS OUR SONG?

The Federal Reserve raised interest rates this week for the first time this year, prompting questions about how the process works and its broader economic impact.

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