In the first week of November 2020, the Federal Reserve announced that - after two days of meetings - they decided not to make any changes to the current federal funds rate. Many people saw this coming because interest rates were already at zero due to the impact of coronavirus. But, while the media covers the Fed changing rates year over year, most people have no clue what this means or what the Federal Reserve actually does. Find out about this recent announcement and what it means in this week's FinCap Friday below:

If you're short on time, try our simplified FinCap Friday (No Tech) with the questions embedded right in the slide deck!

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Check out all of our FinCap Friday episodes here. They're not date-dependent so any of the 85+ in our catalog dating back to August 2018 can work throughout the coming year!

About the Author

Yanely Espinal

Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor's degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master's degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her 10 nieces and nephews!