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One little-known meeting helps decide what Americans can afford — and what they can’t

When it comes to what Americans can afford, no institution looms larger than the Federal Reserve.That is especially true as the Fed on Wednesday concludes its two-day Federal Open Market Committee meeting, the closed-door session where policymakers decide whether interest rates will remain high or begin to ease.The Fed is widely expected to keep its key interest rate unchanged at 3.50% to 3.75%, marking a second straight pause after a series of cuts dating back to September 2024. For households, that means monthly payments on big-ticket purchases are likely to stay elevated for now.TRUMP PROMI...

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