May 28, 2024

Plant. Harvest. Prosper. Episode 27: Fed Funds Rates: What does it mean for banks, the economy, and the markets?

Fed funds rates. What do Federal Reserve Fund rates mean for banks, the economy, and what does it actually mean to markets?

Fed funds rates. What do Federal Reserve Fund rates mean for banks and the economy, and what does it actually mean for markets and your portfolio?

Plant. Harvest. Prosper’s 27th episode features special guest Alex Swanson, CFP®, Associate Advisor at Financial Harvest Wealth Advisors. Alex and podcast host Kellen Williams, CFP®, Financial Harvest Principal and Wealth Advisor, look at the impact of the Federal Funds Rate on our national economy and on your personal finances.

Alex joined the Financial Harvest Wealth Advisors staff in 2022, but as Kellen points out, as the team continues to expand, they can no longer refer to Alex as their “newest team member.” The Financial Harvest team can, however, enthusiastically describe Alex as one of their two newest CERTIFIED FINANCIAL PLANNERS®, as Alex and fellow Associate Wealth Advisor Danica Bolton have each recently attained this prestigious certification. (Watch Podcast Episode 15 with Danica: How to Fund Education Effectively, Efficiently, and with Flexibility)

Podcast Guest: Alex Swanson CFP®

This episode of the Plant, Harvest, Prosper. Podcast examines the Federal Funds Rate. You will want to hear Alex share his perspective on the topic, driven by his experience both as a personal financial planner and seven years in the banking industry with Iberia Bank (formerly Florida Bank), including working as a commercial lines lender routinely negotiating interest rates.

As with every episode, the purpose of this podcast is to help listeners make wise decisions with their wealth and encourage them to live a life peacefully and purposefully towards prosperity.

What does the Federal Funds Rate mean? How does it work?

Federal reserve system fed sign and symbol. Fed funds rate podcast

Between March 2022 and January 2024, the Fed raised interest rates a total of eleven times.  Most recently, at the May 1st meeting, Federal Reserve officials determined they would hold federal funds rates steady (5.25% to 5.5%), a rate set in July 2023 that is the highest rate in more than 20 years.

In Episode 27, Alex and Kellen look at many of the hottest topics making headlines across the financial industry, including:

  • What is the Federal Reserve going to do with interest rates?
  • Is their plan the right plan?
  • What do movements in the Federal Funds rate mean for banks?
  • What is the relationship between interest rates and inflation?
  • How does the balance between fear and optimism influence decisions made by the Federal Reserve?
  • What do movements in the Fed Funds rate mean for our economy?
  • What do movements in the Fed Funds rate mean for the markets and my portfolio?

Kellan Williams invites you to join him as Alex shares insights ranging from how banks make money to more personalized and complex financial issues, including helping podcast listeners understand how to make wise money decisions about their banking relationships… a topic that couldn’t be more timely than it is in today’s economic environment.

Here’s How to Watch or Listen to Plant. Harvest. Prosper. Episode 27

Mouse over the “News” tab in the navigation bar and click “Plant. Harvest. Prosper. Podcast.” Also, every podcast episode is available in an audio-only version on top podcast platforms, including Amazon PodcastsiHeartRadioGoogle PodcastsStitcherSpotifyApple Podcasts, and more.

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