The Federal Reserve's Lever to Increase or Lower Interest Rates

The Federal Reserve has this sort of mission where they need to, basically they have one tool which is raising or lowering basically the floor of interest rates for banks. If they lower interest rates, it's like pushing on the gas of the economy. And if they raise the interest rates, kind of like putting the brakes on the economy and hopefully the banks are also going to raise their interest rates. Because then people don't want to get loans just like they don't like- I'm not going to buy a house at a 9% interest rate, but I would at a 3%. So anyway, so this is the Federal Reserve, this is their mission or this is basically their mandate. Do