When it comes to what Americans can afford, no institution looms larger than the Federal Reserve.The nation’s central bank doesn’t set the price of groceries, cars or homes directly. But it does influence how expensive it is to borrow money – and that can make a significant difference in what families pay each month.Right now, borrowing is costly. High interest rates mean larger monthly payments on mortgages, car loans and credit cards, even if the price of a home or vehicle hasn’t changed.For many Americans, that is why life can still feel unaffordable even as inflation has cooled. Prices may...
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