Description
The Federal Reserve makes headlines every time it changes rates—but what does that actually mean for your mortgage, credit cards, car loans, or savings account? In this episode of Millennial Money Matters, Kelly Turner and Derek Mazzarella break down the Fed, Jerome Powell, and how interest rate decisions ripple through the economy in ways that impact millennials every day.
We cover:
Who the Federal Reserve really is and what their two jobs are Interest rates vs. quantitative easing explained
Why the Fed raises or lowers rates (and what it signals) How Fed decisions affect mortgages, credit cards, and auto loans
Why mortgage rates don’t always follow Fed cuts
The history of rate hikes from 2020 through 2024
Refinancing 101: when it makes sense to refi and when it doesn’t
Closing costs, escrow accounts, and the hidden fees of refinancing
How rate cuts affect investing: bonds, stocks, and high-yield savings accounts T
he Fed’s balancing act between inflation, unemployment, and housing affordability
This episode demystifies the Fed’s decisions and shows how they really influence your money from home affordability to the stock market.
Reach out to Kelly Turner at kturner@totalmortgage.com and Derek Mazzarella at dmazzarella@mygfpartner.com
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