The federal funds rate, set by the Federal Reserve, is just the first layer that goes into determining mortgage rates.

Rates hovered around 7% for a good part of this year.

Since the late 1970s, the Federal Reserve has had two main jobs: ensuring stable prices and maximum employment. How often does it achieve both at the same time?

CDs can lock in a rate of return for months or years. Investors find that attractive ahead of expected interest rate cuts.

But some former central bank officials think the Fed’s risking a recession.

And why is there no target number to measure it, as there is with inflation —the Federal Reserve’s other mandate?

These are times when Fed policymakers and staff must refrain from speaking about monetary policy with the public.

Price-sensitive shoppers are buying fewer or lower-quality items and retailers are offering discounts, according to the Beige Book.

According to Rogé Karma at The Atlantic, many economists believe high rates tamp down inflation largely by influencing people’s expectations.

One wild card: back-to-school shopping.