The Fed raised rates, but what does that mean for you? Dr. Tyler Schipper explains.

Yesterday, the Federal Reserve raised interest rates by a quarter-point to a range of 3.75% to 4.0% marking its first rate hike since 2023 amid persistent inflation, and much to the chagrin of the president. Dr. Tyler Schipper - an Associate Professor of Economics and Data Analytics at the University of St. Thomas - explains what it all means.