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What Trump’s next pick to lead the Federal Reserve means for your wallet

February 1, 2026

No institution has more influence over what Americans can afford than the Federal Reserve, one most people rarely follow but feel every month in their finances. That influence isn’t always obvious. The Fed doesn’t decide what groceries or cars cost, but it does determine how expensive it is to borrow money to pay for them. And right now, borrowing is costly. High interest rates mean larger monthly payments...

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President Donald Trump on Monday sent an official notification to Congress about the U.S. strikes against Iran, in which he attempted to …

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