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    What does the Federal Reserve actually do, and why should it matter to you? President and CEO of the Federal Reserve Bank of Kansas City, Jeff Schmid, decodes the system like no one has before. Using a simple locomotive analogy, the engine, the cars, and the rails, he breaks down the Fed's dual mandate of stable prices and full employment, why interest rates rise and fall, what the Fed's balance sheet really is, and how all of it connects to your paycheck, your mortgage, and your cost of borrowing. John Hope Bryant translates it from the macro economy down to your own micro economy, including why you might be charged 28% when rates are far lower, and how your credit score changes everything. This is the system, decoded from the street to the suites. Listen to the latest episode of Season 3 of my podcast Money and Wealth. Tune in this week on @BlackEffect Podcast Network via @iHeartRadio — or wherever you get your podcasts. 🎙️ Get your free financial coaching through @operationhopehq, and grab a copy of my bestselling book Financial Literacy for All 📚 And don't miss my upcoming book Capitalism for All, where I lay out a blueprint for expanding opportunity and wealth for everyone. #JeffSchmid #FederalReserve #JohnHopeBryant #InterestRates SUBSCRIBE to get the latest Money and Wealth content: https://www.youtube.com/channel/UCCKNk9Sb3H5ueNK_X9V-3yA Listen to the Money and Wealth podcast on Apple Podcasts: https://podcasts.apple.com/gb/podcast/money-and-wealth-with-john-hope-bryant/id1729790200 Listen to the Money and Wealth podcast on Spotify: https://open.spotify.com/show/0QmV7hRqLh1vKoroxZJ5x5?si=6tuvDK8bSAuxltIqlqMnoQ Like John Hope Bryant on Facebook: https://www.facebook.com/johnhopebryantlive/ Follow John Hope Bryant on Twitter: https://twitter.com/johnhopebryant Follow John Hope Bryant on Instagram: https://www.instagram.com/johnhopebryant/?hl=en Follow John Hope Bryant on Tik Tok: https://www.tiktok.com/@johnhopebryant_ Follow Operation Hope on Twitter: https://twitter.com/OperationHOPE
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