finance September 18, 2024 3:23 pm What is the federal interest rate, and how does it impact me? The Federal Reserve sets the federal interest rate, which can impact everything from from your mortgage to your car loans. Here’s what you need to know. US & World Videos 0:37 Ex-Abercrombie CEO arrested on sex trafficking-related charges 9:07 Selena Gomez and Benny Blanco's sweetest moments 2:13 Real-life ‘Karate Kid' meets his inspiration 2:12 What to expect in court as Trump faces 2020 election charges in DC 0:54 Parents can start helping teenagers to build a financial foundation at home without spending