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How exactly are interest rates set?

The Federal Reserve’s Federal Open Market Committee largely determines how interest rates are set, explains Dustin Smith from Wealth Enhancement Group.

Sep 12, 2023 (04:03)

Gopher football running back is putting up big numbers for the team

Gopher football running back is putting up big numbers for the team

One Mr. Football, Peter Westerhaus' path changed after a healthscare

One Mr. Football, Peter Westerhaus' path changed after a healthscare

Once Mr. Football, Peter Westerhaus' path changed after a healthscare

Once Mr. Football, Peter Westerhaus' path changed after a healthscare

Minnesota sees chances for rain and more seasonable temps soon | Next Weather 10 p.m. Oct. 22, 2026

Minnesota sees chances for rain and more seasonable temps soon | Next Weather 10 p.m. Oct. 22, 2026

Parent's of Annunciation shooting victim say GOP gubernatorial candidate lied to them

Parent's of Annunciation shooting victim say GOP gubernatorial candidate lied to them

New Airbnb rules limit "checkout chores"

New Airbnb rules limit "checkout chores"

St. Paul city leaders are looking for a way to help those in homeless encampments

St. Paul city leaders are looking for a way to help those in homeless encampments

Man charged with murder 2 years after Allison Lussier found dead in Minneapolis

Man charged with murder 2 years after Allison Lussier found dead in Minneapolis

Strangers meet online and take “leaf of faith” to make friends

Strangers meet online and take “leaf of faith” to make friends

Grant program provides solar power for Minnesota schools

Grant program provides solar power for Minnesota schools

Feds stopped sharing information in Alex Pretti, Renee Good shootings with Minnesota, lawsuit says

Feds stopped sharing information in Alex Pretti, Renee Good shootings with Minnesota, lawsuit says

Hasan Piker to come to Minnesota next week

Hasan Piker to come to Minnesota next week

Free Minnesota music pop-up at Galleria Edina features Prince, Hüsker Dü and First Avenue

Free Minnesota music pop-up at Galleria Edina features Prince, Hüsker Dü and First Avenue

“Our intention is just good”: Ross Mathews on what makes “The Drew Barrymore Show” tick

“Our intention is just good”: Ross Mathews on what makes “The Drew Barrymore Show” tick

Hennepin County sheriff says she’s been served 18 subpoenas threatening her arrest

Hennepin County sheriff says she’s been served 18 subpoenas threatening her arrest

“Twelve Kinds of Ice” makes its world premiere as a musical at Children’s Theatre Company

“Twelve Kinds of Ice” makes its world premiere as a musical at Children’s Theatre Company

WCCO digital headlines: Afternoon of Oct. 22, 2026

WCCO digital headlines: Afternoon of Oct. 22, 2026

Minnesota's Halloween forecast calls for a “breath of fresh scare” afternoon | Oct. 22, 2026

Minnesota's Halloween forecast calls for a “breath of fresh scare” afternoon | Oct. 22, 2026

Minnesotans soaking up lovely October weather | Oct. 22, 2026

Minnesotans soaking up lovely October weather | Oct. 22, 2026

Minnesota on track to debut 400th solar-powered school this year

Minnesota on track to debut 400th solar-powered school this year

Cattle thief steals nearly a dozen cows from Minnesota farm

Cattle thief steals nearly a dozen cows from Minnesota farm

Thief steals Vikings statue from Minnesota couple's tombstone

Thief steals Vikings statue from Minnesota couple's tombstone

328 Grill’s Halloween burger of the week is “Buffy the Vampire Slayer,” with garlic and purple

328 Grill’s Halloween burger of the week is “Buffy the Vampire Slayer,” with garlic and purple

Face painting, caricatures and mini golf: What’s happening at the ArtAbility show Friday

Face painting, caricatures and mini golf: What’s happening at the ArtAbility show Friday

Bachman’s brings back childhood candy with a nostalgic “vintage” candy shop at its Lyndale sto

Bachman’s brings back childhood candy with a nostalgic “vintage” candy shop at its Lyndale sto

Minnesota gets 3 more days in the 70s, then a cold front cuts the weekend in half | Oct. 22, 2026

Minnesota gets 3 more days in the 70s, then a cold front cuts the weekend in half | Oct. 22, 2026

Sister of Minneapolis woman killed by ex-boyfriend criticizes police investigation

Sister of Minneapolis woman killed by ex-boyfriend criticizes police investigation

Rep. Ilhan Omar recounts federal raid, and more headlines

Rep. Ilhan Omar recounts federal raid, and more headlines

4 Your Weekend: Spooky events across Minnesota

4 Your Weekend: Spooky events across Minnesota

Amazing fall weather in Minnesota | Oct. 22, 2026

Amazing fall weather in Minnesota | Oct. 22, 2026

In the midst of a warm Minnesota fall, but cool-down is coming | Oct. 21, 2026

In the midst of a warm Minnesota fall, but cool-down is coming | Oct. 21, 2026

St. Paul Airport turns 100 | Finding Minnesota

St. Paul Airport turns 100 | Finding Minnesota

Minnesota gubernatorial candidates try to separate themselves from Walz, Trump during debate

Minnesota gubernatorial candidates try to separate themselves from Walz, Trump during debate

New ramp lets people who use wheelchairs ride the hayride at a Farmington pumpkin farm

New ramp lets people who use wheelchairs ride the hayride at a Farmington pumpkin farm

St. Paul would give 60 days’ notice, and place a navigation tent at camps, before closing encampments

St. Paul would give 60 days’ notice, and place a navigation tent at camps, before closing encampments

Klobuchar and Demuth both promise fraud crackdowns, and their plans have a lot in common

Klobuchar and Demuth both promise fraud crackdowns, and their plans have a lot in common

6-month-old who had up to 50 seizures a day is now seizure-free after brain surgery at a Minneapolis

6-month-old who had up to 50 seizures a day is now seizure-free after brain surgery at a Minneapolis

Minnesotans rally at the State Capitol for Ukraine as peace talks move forward

Minnesotans rally at the State Capitol for Ukraine as peace talks move forward

"If I were to let him drive away, I wouldn't be human," man who stopped runaway St. Paul school bus says

"If I were to let him drive away, I wouldn't be human," man who stopped runaway St. Paul school bus says

2 women open St. Croix Falls restaurant built around food grown close to home

2 women open St. Croix Falls restaurant built around food grown close to home

The Side Door at Dexter’s puts Korean fried chicken, sushi and New York-style pizza under one roof

The Side Door at Dexter’s puts Korean fried chicken, sushi and New York-style pizza under one roof

Zac Brown Band founding member, living with ALS, brings his "Hop on a Cure" message to Target Center

Zac Brown Band founding member, living with ALS, brings his "Hop on a Cure" message to Target Center

Think it’s trash? Reusing what you own could save Minnesotans serious cash.

Think it’s trash? Reusing what you own could save Minnesotans serious cash.

Minnesota weather looks mostly dry Saturday, but rain chances may move in after | Oct. 21, 2026

Minnesota weather looks mostly dry Saturday, but rain chances may move in after | Oct. 21, 2026

Minnesota gets more summery October weather | Oct. 21, 2026

Minnesota gets more summery October weather | Oct. 21, 2026

Quick thinking stops Twin Cities school bus scare

Quick thinking stops Twin Cities school bus scare

SCOTUS blocks Trump's attempt to ban inmate hormone therapy

SCOTUS blocks Trump's attempt to ban inmate hormone therapy

Ukraine supporters rally in Minnesota amid news of possible Putin negotiations

Ukraine supporters rally in Minnesota amid news of possible Putin negotiations

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